Cryptocurrency value

Polkadot Price Analysis: Cryptocurrency Value Rises Above $ 35.75 As Uptrend Resumes

TL; Distribution DR

  • DOT value reached $ 35.75 in height.
  • Polkadot’s price analysis favors bulls.
  • Support is still present at $ 33.55.

1-Day DOT / USD Price Chart: Bulls Recover $ 35.75 Position After Last Trade Up

One-day Polkadot price analysis indicates an upward price movement for the day as an uptrend has been observed. Although the cryptocurrency has suffered a significant decline in recent weeks, today’s management has been relatively favorable to buyers. The DOT / USD value now sits at $ 35.75, and a further recovery is only possible if the bullish momentum intensifies further in the coming days. The moving average value (MA) for the day is $ 39.31.

1 day DOT / USD price table. Source: TradingView

The long term trendline is also moving downward, confirming the downward trend that has dominated the market for the past few weeks. The value of the upper Bollinger Band is now $ 52.36, while the value of the lower Bollinger Band is $ 33.55. The Relative Strength Index (RSI) score rose to 37.43 after the recent recovery.

Polkadot price analysis: DOT values ​​at $ 35.75 as uptrend expands

Polkadot’s four-hour price analysis predicts an uptrend as the price has seen steady improvement over the past few hours. The bulls are fighting for the recovery as the value of the cryptocurrency has seen a significant drop in the early hours. The price is now $ 35.75 which is expected to increase further in the next few hours. The moving average value of the four-hour price chart is $ 35.42.

Polkadot Price Analysis: Cryptocurrency Value Rises Above $ 35.75 As Uptrend Resumes 2
4 hour DOT / USD price chart. Source: TradingView

Volatility is increasing, which means the price could experience a drop in the next few hours if the bears manage to come back. This is why the values ​​of the upper and lower Bollinger Bands rose to $ 41.50 and $ 33.47, respectively. The RSI curve also confirms the uptrend and the score improved to 39.07.

Polkadot Price Analysis: Cryptocurrency Value Rises Above $ 35.75 As Uptrend Resumes 3
Table of DOT / USD technical indicators. Source: TradingView

The technical indicators chart for the DOT / USD gives a bearish signal as the past few weeks have been crucial for the cryptocurrency’s progress. There is a sell indication with 13 indicators at the point of sale, eight at the neutral point and five at the point of purchase.

The moving averages indicator predicts a definite downtrend due to increased selling activity. 11 indicators are in the sell position, three are in the buy position and only one is in the neutral position. Oscillators give a neutral indication as seven indicators are on the neutral side, two hands are on the buy and sell side.

Conclusion of Polkadot’s price analysis

Daily and hourly price forecasts support buyers as a significant increase in buying activity has been observed. The price is set to recover as the DOT / USD value has hit $ 35.75 in the last 24 hours. Further intensification of the uptrend is expected as the hourly price chart displays green candlesticks. The past two weeks have had some pretty bad consequences for the overall market value of DOT / USD. But now the cryptocurrency is on the road to recovery as the price has been trending upward today.

Disclaimer. The information provided is not trading advice. 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.

Source link