Polkadot Price Analysis Shows Uptrend. DOT/USD support is $4.41. Polkadot faces resistance at $4.50
Polkadot’s price analysis is very critical today as the market saw a huge increase in the price level. The bulls made a rally that lifted the price level to $4.49. The last few days have been destroying the value of the crypto pair as the strong bearish tone has greatly damaged the value of the coin.
But today, the dynamics have changed and bulls have made a strong comeback. The next point where the bulls may find another resistance is at the $4.50 level.
DOT/USD Price Chart One Day: Bulls Struggle for Lead as They Mark Higher Levels
The one day chart for Polkadot price analysis shows that the coin price is higher today. The bulls covered prices ranging from $4.41 to $4.50. The price is currently fixed at $4.49, as the coin gained 0.91% in the last 24 hours; However, the coin is losing 3.18% in seven days.
The price rose above the moving average (MA), which is trading at $4.51, and the current price and MA value is still below the SMA 50 curve due to the continuation has been going down for the past few days.
Volatility is high which allowed the bulls to rally, with the upper Bollinger band reaching $5.61 and the lower band reaching $4.130, an indication that the price envelope for DOT is pushing lower. The relative strength index (RSI) has increased to 36.12, and the indicator is rising significantly, indicating strong trading activity in the market.
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Polkadot Price Analysis: Recent Developments and Other Artifacts
The 4-hour chart for the Polkadot price analysis also supports the bulls as they have been leading for the past 6 hours and have made significant gains for the crypto pair. The bear also tried to play when the price rose early, but was quickly chased away by the bull.
The price was written to cover the high for the last four hours and reached $4.49, which is above the current moving indicator. The Bollinger Bands reflect these numbers; the upper Bollinger band is at $ 4.54 while the lower band is at $ 4.38, respectively, and the price is broken at the top. After collapsing in a steep direction, the RSI is still ahead of the overbought level at the 45.16 index, but the trend has declined slightly, suggesting a reduction in buying activity.
Polkadot Price Analysis Conclusion
To summarize, Polkadot’s price analysis shows that the coin has been gaining real momentum in the past few hours and is currently trading above $4.49. The bulls were in the lead and managed to push the price above the 4.41 support level, which has been a strong stop for the past few days.
