TL;DR Breakdown
- Polkadot price analysis shows an uptrend
- Support for DOT/USD is present at $4.84
- Polkadot price analysis is bullish at $5.08
Polkadot price analysis shows an uptrend in the cryptocurrency as it has managed to surge past its previous highs of $5.08 after a string of bullish momentum. Bulls and bearish are struggling for dominance in the market, with support for DOT/USD seen at $4.84 and key resistance at $5.17. The bears have been reigning in the market for the previous day and it is unclear whether they will be able to overtake the bulls in the short term.
The coin is on the rise by 3.61% in the last 24 hours and is currently trading at $5.18. The market cap of the coin is $5.87 billion and its 24-hour trading volume is $176 million.
DOT/USD 1-day price chart: Upside continues as price targets next aim above $5.08
The one-day Polkadot price analysis is showing a strong bullish trend for the day as the buying momentum seems to be intensifying. Green candlesticks are marking the one-day DOT/USD price chart, which is indicative of an increasing trend. Currently, the coin value is $5.08, and it is highly expected that it will reach a higher goal in the upcoming days.
A crossover between SMA 20 and SMA 50 curves is taking place, which is a huge bullish indication and a great accomplishment for buyers. Moving on to the Bollinger Bands Indicator, the upper value is at $5.100, whereas the lower value is at $4.10. The Relative Strength Index (RSI) graph shows an upward curve as the score just heightened up to 48.62.
Polkadot price analysis for 4-hour price chart: Recent updates
The 4-hour Polkadot price analysis shows that the bullish trend is still going strong, as the coin value has been increasing continuously over the last 4 hours. The bulls are currently attempting to push the prices toward the key resistance which is seen at $5.17, and if they are successful, a move toward $5.30 can be expected in the near term. The key support for DOT/USD is seen at $4.84, and a break below this level can result in further selling pressure as the prices may retest the $4.50 support level.
The relative strength index is currently at 63.00 and is slowly rising towards the overbought region, which suggests that the prices may consolidate at current levels before a breakout. The Moving average is currently at $5.02 and is headed for a crossover with the 4-hour 200 MA, which is another bullish indicator signaling further upward price action in the near future. The Bollinger band is both expanding and moving downward, which suggests that volatility in the market is likely to continue.
Polkadot price analysis conclusion
Overall, the current Polkadot price analysis suggests that the bullish trend is likely to continue in the near future as long as bulls maintain their grip on the market. Both daily and 4-hour charts are showing bullish signs, and the coin value is likely to test higher resistance levels in the next few days.
