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Polkadot price analysis: DOT/USD prices breaks past $20.64 resistance, bullish rally signal?

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TL;DR Breakdown

  • Polkadot price analysis shows a bullish trend
  • DOT/USD current resistance is seen at $21.17
  • Polkadot is trading at $20.64
Polkadot price analysis: DOT/USD prices breaks past $20.64 resistance, bullish rally signal? 1
Cryptocurrencies prices heatmap, source: Coin360

The Polkadot price analysis today is indicating that the market sentiment is shifting to the bullish side. Prices have broken past the $20.64 resistance as buyers step in, signaling a potential rally. The current resistance is seen at $21.17, and if prices can hold above this level, a further rally towards the $22 mark is expected.DOT prices have established firm support so far at the $19.50 level, and buyers are currently pushing for a breakout past the $21 mark. Polkadot prices have seen a healthy correction since the market opened today and are currently trading at $20.64.

Polkadot price analysis on the 1-day price chart: Bulls set DOT prices above the previous resistance of $20.64

DOT prices have rebounded from the support at $19.50 and are currently trading at around $20.64The market opened today at $20.09 and traded as high as $21.1.Prices have found strong resistance at the $21.17 level and are currently correcting lower. The trading volume has, however, declined significantly from the peak volume seen on March 14 with the cryptocurrency ranking at position 11 overall.DOT prices have been trading between a range of $20.64 and $21.17 for the past few hours.

Polkadot price analysis: DOT/USD prices breaks past $20.64 resistance, bullish rally signal? 2
DOT/USD 1-day price chart, source: TradingView

The Relative Strength Index (RSI) is currently trading at 63.65 which indicates that the market is in a bullish trend as prices continue to make higher highs and higher lows on the charts. The MACD indicator is currently crossing the signal line to the upside which also indicates that prices may continue to move higher in the short term. The Parabolic SAR indicator is currently placed below the price action which indicates that DOT/USD prices are likely to see a further rally in the market.

Polkadot price analysis on the 4-hour chart: DOT prices ready to break higher

Looking at the Polkadot price analysis on the 4-hour chart: DOT has found support at $20.64DOT/USD prices have found strong support at the $20.64 level as buyers step in to push prices higher. Prices have currently bounced off this level and are trading at around $21.03The 4-hour market opened today at $20.60 and has traded as high as $21.17The current resistance is seen at $21.17, and if prices can hold above this level, a further rally towards the $22 mark is expected.

Polkadot price analysis: DOT/USD prices breaks past $20.64 resistance, bullish rally signal? 3
DOT/USD 4-hour price chart, source: TradingView

The MACD indicator is currently crossing the signal line to the upside which indicates that prices may continue to move higher in the short term. The RSI indicator is currently trading at 65 which indicates that the market is in a bullish trend. The Parabolic SAR indicator is currently placed below the price action which indicates that DOT/USD prices are likely to see a further rally in the market. The moving average is headed upwards which indicates that the market is in a bullish trend as prices continue to make higher highs and higher lows on the charts.

Polkadot price analysis conclusion

Polkadot price analysis shows that the cryptocurrency is in a bullish trend that is expected to continue in the short term. The market sentiment is currently shifting to the bullish side as buyers step in to push prices higher. Howeever, the bears are also present in the market and could push prices lower if they gain control. The current resistance is seen at $21.17, and if prices can hold above this level, a further rally towards the $22 mark is expected.

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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