logo

Polkadot price analysis: Price finds stability at $8.33 after receiving a bullish push

Polkadot price analysis
TL;DR Breakdown
  • Polkadot price analysis shows a bullish trend
  • Support for DOT prices is present at $7.72
  • DOT prices are facing resistance at $8.35

Polkadot price analysis shows the prices are still in a bullish trend that has been in play for the last 24 hours. Prices are trading close to the resistance at $8.35 and a breakout is expected in the near term. The support for the prices is present at $7.72 and the current trading price is $8.33, a slight increase of 2.25 percent in the last 24 hours.

Polkadot price analysis indicates the market has seen some increase in the trading volume, which is currently at $521 million. The market capitalization is also on the rise and is currently at $9.1 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 1-day Polkadot price analysis 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 $8.35 resistance level. The prices opened the daily trading session at $7.75 and traded in a range of 7.72support – and $8.35 resistance before closing the session at $8.33.

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.

image 25
DOT/USD 1-day price chart, Source: TradingView

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

DOT/USD 4-hour price analysis: Recent updates

The 4-hour chart for Polkadot price analysis shows that the market volatility follows an uncertain opening movement, which causes the DOT prices to become indecisive below the level of resistance at $8.35.The prices are trading along with the ascending channel and a breakout from the current range could set the tone for the next move.

image 26
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 $8.35 and a breakout is expected in the near term. The technical indicators are also supporting the bullish trend and are indicating that the prices are likely to see some volatility in the near term.

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.

John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

Related News

Hot Stories

Ethereum price analysis: ETH continues consolidation lowering to $1322
CVC Price Prediction 2022-2031: How high can Civic coin go?
Best crypto memes of the day - September 28th
Best Twitter threads of the day - September 28th
Top crypto tweets of the day - September 28th

Follow Us

Industry News

Cosmos 2.0: Uniting blockchains, interchain security, new issuance model for ATOM, and more
Bank of International Settlements green signals CBDC
Robinhood partners with Polygon to test Web3 waters. Here’s how
Shark tank's Kevin O'Leary advice to investors
What lies ahead for Voyager Digital and its investors after FTX wins the purchase auction?