The price is going down once again according to the latest Polkadot price analysis. The bears are striving to make a comeback, and have caused a slight decrease in the price as well. The price has now returned to the $4.57 mark, and it is expected that it might recover back in the coming time period. The past few days have seen immense improvement in the coin value because the bullish trend remained on the lead. But today a drop in price has occurred as well, which is a bearish sign.
The bulls are still trying to keep the price up but the bears have successfully caused a slight decrease in the price. Currently, support has been established at $4.56 and it is expected that the price might recover soon. If the bulls gain more control over the market, then there are chances of an upward surge in price.
DOT/USD 1-day price chart: Price takes a brief stop at $4.57 before heading high
The one-day Polkadot price analysis is showing signs of bearish momentum as the price has been lowered to $4.57. The past week proved highly profitable for the bulls, but today the constant uptrend has been diverted because of the bearish interval. There is an imminent possibility that the bulls might recover back in the coming days. The moving average (MA) value is still quite low i.e. $4.42 because of the sudden increase in price during the last week.
The moving average convergence divergence (MACD) chart shows a bearish sign as the MACD line is below the signal line. The histogram value is also quite low, which indicates a bearish pressure. The relative strength index (RSI) is below 50 which means the price may go down soon.
Polkadot price analysis: DOT is down to the $4.57 mark
The 4-hour price chart for Polkadot price analysis shows bearish momentum is again stepping in as the price has been constantly on the low side. The price has dropped back to $4.57 from the peak of $4.64, and it is expected that it might recover once again in the coming days. The moving average (MA) value is still quite low i.e. $4.62 because of the sudden increase in price during the previous day.
The signal line of the moving average convergence divergence (MACD) chart is below the MACD line, which is a bearish sign. The relative strength index (RSI) is on the low side with a value of 68.26, and this indicates a bearish pressure.
Polkadot price analysis conclusion
Polkadot price analysis shows a bearish trend in the market, as the price has decreased to $4.57, this is a bearish sign. The bulls are still trying to keep the price up but the bears have successfully caused a slight decrease in the price. The sellers are dominating the market and, therefore, it is expected that the price might remain low in the upcoming days.
