TL;DR breakdown
- Today’s price analysis of Polkadot is bullish.
- Polkadot current price is $19.39
- Resistance present at $20
Today’s analysis reveals a bullish trend for the coin Polkadot. Polkadot is currently trading at $19.40 with an increase of 5.74 percent from its previous price, a bullish trend. Resistance is present at $20.35 which must be broken for further bullish movement.
The key support level is present at $18.5. The MACD is also in a bullish trend with an increase of 1.41 percent. Resistance is seen at $20 while the key resistance level is present at $21 which if broken would open doors for more significant price increase measurements.
Polkadot price movement in the last 24 hours: Bulls have maintained the upward movement firmly
Right now Polkadot is sitting at rank 12 with a market capitalization of $274,744,401.00 and a 24-hour trading volume of $54,869,400.00. The overall supply is 980,956,909 DOT tokens and the circulating supply is 496,631,460 DOT tokens. shows a significant increase in price at 5.74 percent. The price has broken the previous resistance at $20 and has come within reaching distance of $21 which is the next resistance for this coin.
The MACD line has broken the resistance of 0.20 and is going up with a one-day bullish movement of 1.41 percent. Right now Polkadot is sitting at rank 12. The overall supply is 980,956,909 DOT tokens and the circulating supply is 496,631,460 DOT tokens. The RSI has escalated towards 70. If this trend continues, there is a high chance of the market continuing its bullish movement for some time now. The exponential moving averages are also split apart with the 50 days EMA above the 200 days EMA indicating that the price is very likely to continue rising.
DOT/USD 4-hour chart analysis: DOT/USD eyes $20 mark
On the 4 hour chart, we can see the price movements of Polkadot see a rise in price at 5.74 percent followed by a very small correction of 0.60 percent. The resistance of $20 has been tested at least three times but has not been broken yet. Resistance at $21 is the next resistance level for this coin and if it breaks there could be a significant rise in price which would not just increase Polkadot’s value but also that of Ethereum.
The MACD line is going up with a bullish movement of 1.41 percent while the exponential moving averages are once again split apart with the 50 days EMA above the 200 days EMA indicating that price is very likely to continue rising. The RSI has increased and gone up considerably from the oversold zone which means a lot of buy orders have been placed in the market increasing demand for this coin.
Polkadot price analysis conclusion
In summary, Polkadot price analysis is bullish for today. As long as the price is above $19.8, buyers will most probably attempt to break the resistance at 20.49 USD. Barring any unexpected downturns in market sentiment, we can expect further growth for this coin over the next few days.
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