Polkadot price analysis: Bearish momentum reactivates dictating loss till $31.69

By October 3, 2021Polkadot
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TL;DR Breakdown

  • Recent Polkadot price analysis shows bearish trend.
  • Price has moved down to $31.7 today.
  • Support is quite strong at $25 level.

The price is traveling low once again as the bears made a comeback today. The bulls had been at the upper position during the last week, by winning successively. But now the trends are shifting as the price has covered downward movement during the day. The price has been lowered to the $31.69 level because of the successful bearish attempt. A further downfall can be expected as it has been confirmed from the hourly price chart as well.

DOT/USD 1-day price chart: Price takes turn once again as bears strive for dominancy

The Polkadot price analysis is showing signs of bearish activity as the price underwent considerable decline today. The chances are increasing for the bears to survive and take price even lower than its current level i.e. $31.69. The bulls had been winning consistently during the past week but now the trends have reversed. The moving average (MA) value is standing lower than the price level as it is at $29.37 in the one-day price chart.

The volatility has been on the decreasing side which is why the Bollinger bands average is now at $31.30. The upper value of the Bollinger bands Indicator is now settled at $37.8 position while its lower value is at $24.77 position. The Relative Strength Index (RSI) score is balancing itself on 53.2 level at present.

Polkadot price analysis: DOT price deflates to $31.7 under bearish pressure

The four hours Polkadot price analysis is predicting that a drop in price has occurred during the past couple of hours. The bullish slide has been interrupted by bears as the price levels have moved down to the $31.69 value. The SMA 20 curve is also moving in the descending direction because of the sudden decrease in price. Whereas the moving average value is now standing above the price i.e. at the $32.22 position.

The Bollinger bands average has moved up to $30.76 as well as a consequence of the increasing volatility. Whereas the other values are as such; the upper Bollinger band is at $34.38 whereas the lower band is at $27.14. The RSI score has decreased to 59 as well because of the downtrend.

The technical indicators chart for DOT/USD is going bullish as the price has been relatively in a better position on the whole. There are 13 indicators standing on the buying position, with 10 indicators on the neutral and three indicators on the selling positions.

The moving averages (MA) indicators are giving a strong bullish signal as well. There are 13 indicators currently spotted on the buying position, while one indicator each is present on the selling and neutral positions. The MA10, MA20, and MA30 all favor the buying option due to the bullish trend of the past few days.

The Oscillators are showing negative results as the bears have been leading during the day. There are two oscillators fixed on the selling position, including the MACD and the Momentum, nine on the neutral, and zero on the buying positions.

Polkadot price analysis conclusion

The price is headed down once again after the bears took charge of the market today. The constant uptrend has been reversed as the price has undergone a decline up to $31.69. Further loss can be expected as the hourly price chart is also displaying favorable results for the bears.

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.

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