- Polkadot price analysis shows a bullish trend.
- Resistance for DOT is found at the $24.1 level.
- Support for DOT is present at a $22.3 position.
The latest Polkadot price analysis shows signs of a strong bullish trend, as the price curve shows an upward movement for the day. In the past few days, the price levels have been gradually rising, and the trend is the same for today, with a little more punch towards the upside as DOT has received overwhelmingly positive market sentiment. More buying activity has been observed in the market, and the price is expected to increase further in the upcoming hours. After today’s spike, the price is currently trading at $23.1.
DOT/USD 1-day price chart: Bulls mark 10 percent gains
The 1-day Polkadot price analysis suggests the bullish trend is taking over the market as the price has increased in the last 24-hours. The bullish trend is expected to continue as the bullish momentum has escalated today, and the price has reached $23.1, gaining 10.9 percent overnight. The trading volume has shockingly increased by 126 percent. The moving average (MA) value in the one-day price chart is trading above the SMA 50 curve at $20.7.
The Bollinger Bands Indicator highlights high volatility for DOT, as its upper band is standing at $22.7, whereas its lower band is standing at $15.9 point, and the price is trading above the upper band. The Relative Strength Index (RSI) has reached the border of the overbought region at index 70, indicating more buying activity.
Polkadot price analysis: Recent developments and further technical indications
The four-hour Polkadot price analysis also predicts an upwards trend for the cryptocurrency, as the bulls have been maintaining their lead. In the past four hours, the DOT/USD value further increased to $23.1 because of ongoing buying momentum. The four-hour price chart’s moving average is settled at $22.1 below the price level as the price is nearing the upper limit of the volatility indicator.
The volatility is increasing, which means that the bullish trend will outstretch in the future. The upper limit of the Bollinger bands Indicator is touching the $23.18 mark, whereas the lower band is touching the $19.6 mark. The RSI graph also shows an ascending curve, and the score is now 79 as the indicator is trading in the overbought zone.
Polkadot price analysis conclusion
From the above Polkadot price analysis, it can be confirmed that the cryptocurrency is rallying overwhelmingly high due to the bullish wave. Today, the price underwent a significant increase and has been enhanced up to $23.1. If the uptrend expands in the upcoming week, the analysts expect a further increase in coin value.