logo

Polkadot price analysis: DOT maintains a bullish trend at $6.79

Polkadot price analysis
TL;DR Breakdown
  • Polkadot price analysis shows a bullish trend
  • Support for DOT prices is present at $6.5
  • DOT prices are facing resistance at $7.0
image 26
Cryptocurrencies prices heatmap, source: Coin360

Polkadot price analysis shows the prices are still in a bullish trend that has been in play for the last few days. Prices are trading close to the resistance at $7.0 and a breakout is expected in the near term. The support for the prices is present at $6.5 and the current trading price is $6.7, a slight increase of 1.35 percent in the last 24 hours.

The Polkadot price analysis indicates the market has seen some increase in the trading volume, which is currently at $4.3 billion. The market capitalization is also on the rise and is currently at $6.7 billion. Prices are expected to rise further in the near term as the market sentiment remains bullish.

DOT/USD 1-day price analysis: Bulls remain in control

The DOT/USD pair is trading in a bullish trend and the prices are expected to rise further in the near term. The market sentiment is positive and the prices are expected to break out of the $7.0 resistance level. The prices opened the daily trading session at $6.77 and traded in a range of $6.75-$7.0 before closing the session at $6.79.

image 24
DOT/USD 1-day price chart source: TradingView

The RSI indicator is currently at 65, a handle that suggests there is more room for the prices to move higher. The MACD indicator is in the positive territory and is rising, which indicates that the bulls are in control of the market. The DOT/USD pair is expected to rise further in the near term as the market sentiment remains bullish.

The market volatility is on the rise as the Bollinger bands are starting to bulge, which indicates that the prices are likely to see some volatility in the near term. The market is expected to see some volatility in the near term as the Bollinger bands are bulging. 

The Polkadot price analysis shows that the market is in a bullish trend and the prices are expected to rise further in the near term as the market sentiment remains positive. The next level of resistance for the prices is at $7.2, which is expected to be breached in the near term. Support for the prices is present at $6.5 and the prices are expected to find buyers around this level.

DOT/USD 4-hour price analysis: Resistance at $7.0

Polkadot price analysis on the 4-hour price chart shows that the market is in a bullish trend as the prices are trading above the moving averages. The 50-period EMA is providing support for the prices, which are currently at $6.7.The 200-period EMA is also located below the prices and is currently at $6.5, which indicates that the path of least resistance is to the upside.

image 25
DOT/USD 4-hour price chart source: TradingView

The RSI indicator is currently at 65 and is rising, which indicates that the bulls are in control of the market. The MACD indicator is also in the positive territory and is rising, which indicates that the market sentiment is positive. The bands of Bollinger bands are also starting to bulge, which indicates that the market is likely to see some volatility in the near term.

Polkadot price analysis conclusion

Polkadot price analysis shows that the prices are in a bullish trend and are expected to rise further in the near term as the market sentiment remains positive. The next level of resistance for the prices is at $7.2, which is likely to be breached in the near term. However, the prices might slip back to $6.8 levels in the near term as the market is expected to see some volatility.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Editah Patrick

Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

Related News

Hot Stories

Bitcoin price analysis: Consolidation yet to yield results as $24k resistance strong
How to Stake Apecoin: 6.10% APY on a 60-day staking period
How to Stake SNX: Unlimited Liquidity on the Synthetix Network
Polygon price analysis: MATIC falls at the $0.88 hurdle to initiate downtrend
Dogecoin price analysis: DOGE swiftly rejects $0.075, retests previous low

Follow Us

Industry News

BitMEX executive pleads guilty in court
Singapore’s crypto lender Hodlnaut shuts down
Celsius withdraws motion to rehire CFO at $92,000 a month
Crypto.com earns license of operation in South Korea
Elon Musk drags Twitter to court for fraud