POLKADOT PRICE ANALYSIS : DOT struggles with the Cup and Handle pattern, as the bulls fight for the lead.

By September 14, 2022Polkadot
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POLKADOT PRICE ANALY

The Polkadot price analysis for today shows that bulls are trying to shift bearish pressure. The DOT/USD price has found support at $7.03 as bulls got control after three days of bearish dominance.

As bulls try to overcome bearish pressure, the DOT price has risen slightly to $7.13 after getting support. However, bearish pressure, and it is possible that the crypto currency's price may fall further. The $7 range is still proving to be a strong support base for DOT, which is still in force.

The daily price chart for Polkadot price analysis shows that bulls have succeeded in reversing the trend for the time being, but the gains are small and might reverse at any time. The DOT price has hit $7.17, although the cryptocurrency has lost 6.61 percent of its worth in the previous 24 hours due to yesterday's crash. However, the coin has risen 4.03 percent over the last week since the price trend line has remained upwards.

The 4-hour price chart for Polkadot price analysis shows that bulls were in control at the start of the day and increased the price levels, but bears have now intervened once again. The previous four hours have also shown bearish action, as the price has recently dropped to $7.03.

According to Price Analysis, The market capitalization of this DOT is estimated to be $8,828,878,802. The 24-hour trading volume for the same coin is around $448,783,937.

The first major resistance is located at the $7.60 level. Any further rises might push the price up to the $8.20 level. Above $8.20 may touch $9.40 level soon.

If DOT fails to break $7.60 major resistance, the price may continue to fall below $6.80. The next major support level is at $6.00 If it fails to hold this level then sharp panic selling can be towards $5.50 level.

KEY LEVELS :

RESISTANCE LEVEL : $7.50-$8.00

SUPPORT LEVEL : $6.50-$6.00

Will POLKADOT reverse the Cup and Handle pattern for $7? Please share your thoughts below.

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