Polkadot price analysis shows that the bulls have taken control of the market in the short term as DOT approaches the $9.35 mark. The coin is facing resistance at $9.48, but if it can break above this level, we could see further upside potential towards $9.90 and maybe even $10. Polkadot price has been bearish for the past few hours per day, losing around 8% of its value. However, over the past few hours, we have seen strong bullish momentum developing which allowed DOT to recover the $9.35 level and move closer to the resistance at $9.48.
Current market momentum indicates a slightly bullish trend in DOT prices. The bulls were able to take control of the market and drive prices higher from the opening levels. DOT/USD price support is present at $9.17, which should put some buying pressure in the near term. Polkadot’s price analysis shows that the digital asset has made a slight bull run over the past few hours.
Polkadot Price Analysis on 1-Day Price Chart: DOT/USD Moves to $9.35 After Bullish Efforts
The 1-Day Polkadot Price Analysis chart shows that DOT started the day on a bearish note as it moved from $9.48 to test support at $9.17. After bouncing from this level, we saw strong bullish momentum developing which allowed DOT to recover the $9.35 level and move closer to the resistance at $9.48. Market capitalization of 24-hour trading volume increased by $9,236,539,287 and market volume increased by $306,839,872.
Market volatility is currently high, indicating a bullish price trend. The market looks set to consolidate around current levels as the bulls look to take control. Technical indicators are currently giving mixed signals as the RSI is trading near overbought levels, which could mean that we could see bearish momentum building in the market in the near term.
The MACD is currently trading in positive territory, but it looks like it is about to move into bearish territory. This could signal a downtrend in the market, but it’s important to wait for a confirmed crossover before taking short-term positions. The DOT/USD pair is currently trading at $9.35 and showing signs of further upside potential. The MA 50 is trading at $9.38 and the MA 200 is trading at $9.35, showing that the market has room to rise in the near term.
4-Hour DOT/USD Price Analysis: Recent Updates
Over 4-hours Polkadot price analysis shows that the price is currently consolidating around the $9.35 level as the bulls seek to take control of the market. Prices are in a state of consolidation as the market seeks to find its next direction. The market is currently facing buying pressure at the $9.48 level, which should provide near-term support. The market appears to be in a slight uptrend with prices trading above the $9.17 support level.
The MA 50 is currently above the MA 200, which shows that the market has some short-term bullish momentum. The MACD indicator is currently moving above the signal line, which is a bullish sign. The RSI indicator is currently trading at 56.1, which shows that there is further upside potential in the market.
Polkadot Price Analysis Conclusion
The 1-day and 4-hour Polkadot price analysis suggests an upward trend for the cryptocurrency, with the bulls occupying the leading position. The bulls managed to boost the value of the coin to a high of $9.35. The hourly price chart shows green candlesticks for the DOT/USD price function, which has also risen over the past four hours.
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