Polkadot Price Analysis: A bullish upward trend is driving DOT price above $5.45

By November 24, 2022Polkadot
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Polkadot Price Analysis: A bullish upward trend is driving DOT price above .45

Polkadot price analysis today confirms the uptrend for the cryptocurrency as the coin price has made a tremendous rise above $5.45, the resistance level for DOT/USD is at $5.51 and the support level is at $5.33. The bullish momentum we are seeing in this market is likely to continue as more investors and traders enter the space and drive up prices. The coin has a market capitalization of $6,222,258,772 and a 24-hour trading volume of $228,680,011.

DOT/USD 1-Day Price Analysis: The Uptrend Continues

The 24-hour chart for Polkadot price analysis reveals a strong bullish trendline for today as the coin price corrected significantly. The efforts made by the buyers during the last 24 hours have been commendable and consistent. And now, the conditions are again in favor of the bulls as the price has gained 5.45% with a gain of 1.07%.

DOT/USD 1-Day Price Chart, Source: TradingView

Volatility is still at the lowest level in the one-day price chart and this is a sign of a very stable uptrend. To determine the support levels, we can look at the upper Bollinger Band at $10.014 and the lower one at $6.640. The Relative Strength Index (RSI) currently stands at 40.49 which indicates that the market is overbought. The moving averages currently at $5.467 are a good sign for the buyers.

DOT/USD 4-Hour Price Analysis: Recent Updates

The hourly Polkadot price analysis is in favor of the cryptocurrency buyers as the DOT/USD price saw a strong increase in the past few hours. The bulls are dedicated to reclaiming their dominant position in the market, and so far, their progress has been impressive. The bullish momentum in the price has led it to $5.45 in the last 4 hours as the bulls are leading the price action for the last 4 hours.

DOT/USD 4-Hour Price Chart, Source: TradingView

The moving average at $5.418 is another good signal for the buyers. The RSI indicator stands at 46.79 and is indicating a further uptrend. The Bollinger Bands are also indicating a bullish trend as the upper band is at $5.85 and the lower Bollinger Band is at $5.68, which means that the market has strong momentum in this range.

Polkadot Price Analysis Conclusion

Polkadot price analysis shows that the bulls are ruling higher, as confirmed by the one-day and four-hour price charts above. A bullish wave dominated the market in the last 24 hours, while the uptrend is expected to continue in the coming hours.

Disclaimer. The information provided is not trading advice. assumes no responsibility for any investments made based on the information on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Source: www.cryptopolitan.com

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