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Polkadot price analysis: DOT/USD soars to $17.8, prepares to break $19.06 resistance

TL;DR Breakdown

  • Polkadot price analysis shows that the prices are bullish for today
  • The resistance level is preset at $19.06
  • Support present $16.64
Polkadot price analysis: DOT/USD soars to $17.8, prepares to break $19.06 resistance 1
Cryptocurrency heat map by Coin360

Polkadot price analysis shows that it opened the daily market chart with a bullish trend. Polkadot has gained 10.19 percent from its previous price, currently, it is trading at $17.81.The MACD and RSI indicators are both in bullish territory, which suggests that Polkadots prices are likely to continue rising.

The current resistance level for Polkadot is at $19.06, followed by $20.37. If Polkadot can break above these levels, it could reach a new all-time high. The support prices are $16.64 and $15.92.Polkadot’s price is trading around the range of $15.84 and $18.01 dominating 1.00 percent of the overall market. Moreover, DOT/USD pair recorded an increase in the total market cap with 11.11 percent while the trading volume declined by 24.03 percent totaling $1,386,388,642.12, therefore, ranking at position 12 in the overall digital assets market.

Polkadot price analysis in the last 24 hours: DOT/USD pair advances upwards, bulls have gained full control of the prices

Polkadot price analysis in the last 24 hours is indicating an upside movement as it prepares to break the resistance of $19.06. If Polkadot can break above $19.06, it could reach a new all-time high. If it falls below the support levels of $16.64 and $15.92, the price could drop back down to $14.40.

Polkadot price analysis: DOT/USD soars to $17.8, prepares to break $19.06 resistance 2
DOT/USD 1-day price chart, source: TradingView

The RSI is in the overbought zone and the moving average convergence divergence (MACD) is showing a buy signal, which indicates that the price of DOT might increase in the short term. The Bollinger bands are also expanding, which suggests that the market vitality is high and the prices might increase further.

DOT/USD 4-hour chart anaylsis: DOT/USD pair targets $19.00 mark

DOT/USD pair prices are targetting the $19.00 mark as it has established a firm bullish trend. The indicators on the 4-hour price movement chart for DOT/USD pair are signaling the bullish momentum is to take longer. The RSI is residing at 58 and is moving upwards, the MACD line is above the signal line and is increasing, and the price is above the EMAs.Also, the Simple Moving Average line is on the rise, which indicates that the upward movement is continuing.

Polkadot price analysis: DOT/USD soars to $17.8, prepares to break $19.06 resistance 3
DOT/USD 4-hour chart, source: TradingView

The Bollinger bands are expanding, which signals that the prices will continue to increase in the short term. The price is expected to break the current resistance at $19.06 and move upwards.DOT/USD pair is expected to reach new highs as the indicators are all in favor of bullish momentum.

Polkadot price analysis conclusion

We can conclude today’s Polkadot price analysis is bullish. Moreover, Polkadot prices have established a firm bullish momentum in the market from last week’s prices as it prepares to break the resistance of $19.06. The indicators are all in favor of the bulls and suggest that the prices might increase in the short term. In addition, Polkadot is expected to reach further highs as it establishes a bullish momentum in the market.

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.

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