The Polkadot price analysis shows the coin is in bullish momentum, as today it broke above $7.19 towards an all-time high. The DOT/USD pair has been in bearish mode for the last two days, and the pair has been trading in a very narrow range. However, as of writing this article, the coin is up more than +3.77% in the last 24 hours alone. As bulls have taken over today, we can expect further upside movement toward the $7.38 resistance level if buyers maintain their dominance.
Polkadot price analysis 1-day price chart: DOT on a bullish flight
The 1-day Polkadot price analysis shows that the cryptocurrency is still racing higher above $6.90 as it is trading hands at $7,19 at the press time. The DOT/USD is trading in a range of $7.38 resistance level and $6.90 support level, and the bulls are likely to break above this range soon enough as the coin is reaching higher highs. The market cap has improved by 3.91 percent, and the trading volume is at $363 million.
The volatility is increasing for the DOT/USD as the Bollinger bands are expanding again and continue to diverge, with the upper band at $7.68 and the lower band at $5.81, indicating an increase in volatility over the next few days. The Relative Strength Index (RSI) is currently trading near 59.14 levels as it holds above 50 on the daily chart, which shows that bulls are still in control of Polkadot price analysis today. The MACD is also in bullish territory with a line above the signal lines.
Polkadot price analysis 4-hour chart: Bulls keeping the pressure
The 4-hour Polkadot price analysis shows that the price breakout was upward today, and the cryptocurrency has not undergone correction today at any point as all the candlesticks for today are green. As bulls are defining the price curve, the price is oscillating fast upwards, which still continues to the upside.
The volatility has been increasing for the crypto pair on the 4-hour chart as well as the Bollinger bands are expanding steeply, with the upper band at $7.59 and the lower band at $6.93, which indicates a high level of volatility in the coming days. The moving average convergence/divergence (MACD) is also in the bullish zone with a line above the signal lines. The relative strength index (RSI) curve is still above the 48.35 level, which indicates strong buying pressure.
Polkadot price analysis conclusion
The Polkadot price analysis shows the value of the crypto pair has increased significantly today as the DOT price is at the highest point of all time. The price is covering an upwards range from the last 24 hours, but during the remaining four hours, a slight correction may loom as the crypto pair is already overbought as well. The technical analysis is also bullish, as all the indicators are in favor of the buyers today.
