POLKADOT PRICE ANALYSIS : Bulls’ last chance, hoping for Cup and Handle pattern and major support

By September 15, 2022Polkadot
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POLKADOT PRICE ANALY

Polkadot price analysis for today's trading session shows that the cryptocurrency has risen from its recent low of $6.94 to $7.10. The recovery in DOT prices may be credited to the market's overall positive trend, as most cryptocurrencies are currently trading in the green.

Today's market opened at $7.20 and has reached a high of $7.23, but is seeing some resistance at this level. The main price support level is $6.80, which is closer to the low we recorded yesterday.

The 24-hour Polkadot price analysis chart indicates that the cryptocurrency entered bearish territory when prices fell below $7.00, however the bearish momentum was short-lived as prices quickly recovered to $7.10, falling more than 1.28% in value. On the chart, we can see that a clear upward trend line is formed, indicating that the market's overall bullish momentum is still present.

Polkadot price analysis 4-hour price chart shows that price has been increasing every hour from the start of today's trading session, as bulls gained momentum after the first half yesterday. The price has also risen, reaching $7.30 above the upper limit of the Volatility indicator.

The market capitalization of DOT is estimated to be $7,931,941,399. The 24-hour trading volume for the same coin is around $383,166,719. DOT market capitalization has fallen by 1.00%. However, trade volume decreased by 14.83% during intraday trading. The market capitalization to volume ratio is 0.04839.

The first significant resistance is situated at $7.60. Any additional increases might bring the price up to $8.10. Above $8.10, the price may shortly reach $9.20.

If DOT fails to break through the significant resistance level of $7.60, the price may continue to decline below $6.50. If it fails to maintain this level, panic selling will occur up to the $6.00 level.

KEY LEVELS :

RESISTANCE LEVEL : $7.60-$8.20

SUPPORT LEVEL : $6.70-$6.00

Will the Cup and Handle pattern protect DOT from more pain? Please share your thoughts.
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