Polkadot Price Analysis is Bullish. DOT price faces resistance at $5.0. DOT price support is at $4.0
Polkadot price analysis shows that DOT stock continues to trade at higher levels after seeing a short session in the general market. The overall price range for Polkadot appears to be strong, with the altcoin gaining 3.6%, trading at $4.49 at the time of writing. In order to increase the chances of the session continuing, it is important that the traders break, hold and push the price above this main stop level. What can happen is that if this happens, the bulls can take the price of DOT to the next stop level of $5.5.
Bitcoin and Ethereum extend gains for the second day of the new year as the top 10 altcoins post small gains. Currently, DOT is trading above the 100-day and 50-day simple moving around the 4.35 level and expect immediate upward pressure. If the bulls succeed in pushing the price above the current stop at $5.0, the next target is $6.0.
Polkadot Price Analysis on Daily Chart
Bulls don’t have enough time to break above the 20 day EMA.
Polkadot price analysis and daily charts show that Polkadot opened today’s trading session with an intraday high of $4.52 and since then, the bullish power has weakened and has not been able to break above the 20-day moving average (EMA). Despite the failure of the bulls’ break above the 20-day EMA, support for Polkadot seems to be strong and strong trading volumes and sums close to its current price level.
The support level sits at $4.33, and a break below this level could see the price of Polkadot fall back to its three-week low at $4.21. On the other hand, if the bull can find enough strength to break above the 20-day EMA and breach the $4.80 stop, it can push the Polkadot price up to $5.0, which is the key stop. which he falls for. A few weeks ago.
Technical indicators are showing slow momentum, and the Relative Strength Index (RSI) is hovering around the mid-range, indicating a balance between buying and selling pressure. The ATR (average true ratio) also appears to be close to its current range, indicating a low volatility period.
The Fib retracement level also shows that a break above the $4.80 resistance level could lead to a rally for the 38.2% retracement level, which is currently near the 5.25 mark. $. As such, the bulls should be careful because any further weakness could cause it to be depressed to the 50 day EMA, which is currently at $4.60.
Polkadot price analysis on the 4-hour chart
DOT is trading in the range of $4.32-$4.52.
Polkadot price analysis in the 4-hour period shows that DOT is stuck in a strong range and has established a vertical channel, with strong resistance at $4.52 and support at $4.32. A closing candle is also seen on the 4-hour chart near the resistance level. Making it difficult for the bulls to leave the place. Trading prices are very high, indicating that prices are likely to break in either direction as energy has begun to wane.
The pattern of the chart shows that the bears will dominate the market if the price does not make the upper stop of $4.52. The $5 resistance point is likely to be tested if the bulls can break out of range and make a firm decision above $4.52. Meanwhile, technical indicators are showing strong bullish sentiment as the Relative Strength Index (RSI) continues to overbought levels and the Moving Average Convergence Divergence (MACD) line is trading. well above his mark. The Ichimoku cloud also shows that the bulls have the upper hand in the short term, as the price trades above the tenkan-sen and kijun-sen lines.
Polkadot Price Analysis Conclusion
The price analysis of Polkadot for today shows that Polkadot is ready to continue its impressive progress and can test the $5 stop point if the bulls can break out of the range and make a strong decision above $4.52. This damage can be exacerbated by visual cues that point to strong negative emotions.
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