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Polkadot price analysis: DOT gains to a new high of $5.98 after bullish momentum sets in

Polkadot price analysis

TL;DR Breakdown

  • Polkadot price analysis is bullish today
  • The resistance for DOT is present at $6.07
  • Support for DOT/USD is found at $5.66

Polkadot price analysis shows that the bulls are trying to recover once again. The price has been rising and is planning to breach past the $6.07 resistance. The recent uptrend has been quite encouraging as during the past week, the cryptocurrency remained under bullish pressure and gained significant value. The bullish momentum is increasing gradually, and a further improvement in the price value can be expected.

The bulls have taken control of the market, and as more investors are entering this market, there will be an increase in demand for Polkadot. This can also play a role in increasing the price of DOT further towards achieving its all-time high of $6.07.

Polkadot price analysis 1-day price chart: DOT/USD Price escalates to the $5.98 mark

The one-day Polkadot price analysis is going positively for the cryptocurrency as there has been a considerable amount of rising in the price value. The price has now surpassed the $5.98 level and is aiming to settle down at a higher level. The coin has already gained about 3.47 percent value which will increase over time as the price is settling at $5.98 at the moment; however, some bearish pressure was seen some hours before and the coin price decreased to $5.66 which is now the support level.

image 335
DOT/USD 1-day price chart, Source: TradingView

The Exponential Moving Average (EMA) 50 and 100 are looking very strong as they are above the EMA 200 which is a good sign of price stability. The RSI is also hovering in a positive zone, which suggests that the buyers have the upper hand in this market. The MACD is also in the bullish zone and is indicating that the trend of Polkadot may remain stable for some time, which can further improve its price.

Polkadot price analysis 4-hour chart: price returns to $5.98

The 4-hour Polkadot price analysis chart shows the price is flying high once again as the bulls have gained back some strength during the past couple of hours. The current DOT/USD price is going at $6.07 and is expected to touch an even greater height. The EMA 50 and 100 are also in a good condition, indicating that the price may surge further. The EMA -9 and -4 are also in perfect alignment with each other and are indicating a bullish trend.

image 334
DOT/USD 4-hour price chart, Source: TradingView

The MACD on the 4-hour chart is currently in the positive zone, which suggests that the buyers have complete control over this market. The RSI is hovering around 62, showing no sign of extreme movements as of now, but an increase could be seen in the coming days.

Polkadot price analysis conclusion

Overall, Polkadot price analysis is bullish and the price may increase further if bullish momentum remains intact. The current market conditions are quite favorable for DOT, and it can be expected to reach its all-time high of $6.07 in the near future.

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.

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