Polkadot price analysis is bullish today as the bulls continue to push DOT above $5.27. This has been a good sign for the investors and traders alike as they are expecting further rise in the prices. The bulls are targeting the $5.28 level as the next resistance point, and if it breaks further gains could be seen in the near future.
On the other hand, Polkadot price analysis shows that the price is slowly moving in the bullish direction. Currently, the price of DOT is sitting at $5.27 with a gain of over 3.81% in the last 24-hours.
However, the past few hours have been crucial as the bearish momentum has been very strong, with bulls working hard to propel the price higher, according to Polkadot price analysis today.
DOT/USD 1-day price chart: Bulls slow recovery, climb above $5.28
The 1-day Polkadot price analysis chart shows that the cryptocurrency price saw a slight recovery above the $5.28 resistance today. The bearish momentum over the past few days has had a huge impact on the price movement, as the momentum has been very intense.
Currently, the buyers are finding it difficult to push the price above $5.28 as there is a strong resistance from sellers at this point, making an increase in trading volume crucial. The 24-hour trading volume is $195 million, making the price more volatile, while the market cap is $6.077 billion, up 3.86%.
DOT/USD 1-Day Price Chart. Source: TradingView
Today, the price levels are slowly moving back to their former highs, and there are some chances that they will soon reach the Moving Average (MA) level at $4.91. The MACD is showing a bullish crossover, and the RSI is also in the positive zone, suggesting further gains could be seen in the coming hours.
Polkadot Price Analysis 4-Hour Price Chart: DOT ready to scale new highs
4-hours Polkadot price analysis is indicating a significant upside move in price after a sustained bearish downtrend. The price has increased to $5.27, which is a notable correction in the last few hours. The moving average is at $5.17, just above the price level, which is below the SMA line, indicating a bearish trend.
DOT/USD 4-Hour Price Chart. Source: TradingView
The MACD is showing a bullish crossover, as the signal line appears to be crossing the MACD line. This indicates that the bulls can take control of the market and push the price further. The RSI is in positive territory, with values above 50 suggesting that buyers are now dominating the market.
Polkadot Price Analysis Conclusion
From the above 4-hour and 1-day Polkadot price analysis, it can be confirmed that the market is more welcoming to buyers. More buyers are hoping to go ahead with their deals, resulting in more selling records taking the price above $5.28.
Source: www.cryptopolitan.com