DOT/USD set to break higher today


Polkadot price analysis shows a bullish trend in the DOT/USD market. After breaking out the symmetrical triangle pattern, prices are trading above the $10.5 level. The breakout has set key support at $10.0.

Polkadot price analysis shows that the DOT/USD market is in a bullish trend. After breaking out of a symmetrical triangle pattern, prices are trading above the $10.5 level. The breakout has set key support at $10.0.

The MACD on the daily chart is bullish with a strong upward trend. The RSI is also in overbought territory above 70. However, the Stochastic RSI is currently in the bearish territory with a crossover.

The current market conditions indicate that the price of DOT is likely to continue to rise in the short-term. However, the long-term prospects for the DOT/USD market remain bullish.

DOT/USD price action on a 1-day price chart: Rebound seen from the $10 level

The recent Polkadot price analysis shows that the DOT/USD market is in a bullish trend. After breaking out of a symmetrical triangle pattern, prices are trading above the $10.5 level. The breakout has set key support at $10.0.

The MACD on the daily chart is bullish with a strong upward trend. The RSI is also in overbought territory above 70. However, the Stochastic RSI is currently in the bearish territory with a crossover.

image 254DOT/USD 1-day price chart, source: TradingView

The current market conditions indicate that the price of DOT is likely to continue to rise in the short-term. However, the long-term prospects for the DOT/USD market remain bullish.

The recent Polkadot price analysis shows that the DOT/USD market is in a bullish trend. After breaking out of a symmetrical triangle pattern, prices are trading above the $10.5 level. The breakout has set key support at $10.0.

Polkadot price analysis on a 4-hour price chart: Head and shoulder trading patterns

The 4-hour chart is in head and shoulder pattern with a bearish divergence on the RSI. The MACD is currently in bearish territory. Prices are likely to retrace back to the $10.0 level in the short term.

image 253

DOT/USD 4-hour price chart, source: TradingView

The current market conditions indicate that the price of DOT is likely to continue to rise in the short-term. However, the long-term prospects for the DOT/USD market remain bullish.

The MACD on the daily chart is bullish with a strong upward trend. The RSI is also in overbought territory above 70. However, the Stochastic RSI is currently in the bearish territory with a crossover.

On the 4-hour chart, the MACD is bullish and is currently in a strong upward trend. The RSI is also in overbought territory above 70. However, there is a bearish divergence in the current market conditions indicating that the price of DOT is likely to continue to rise in the short term. However, the long-term prospects for the DOT/USD market remain bullish.

Polkadot price analysis: conclusion

Polkadot price analysis reveals that the DOT/USD market is in a bullish trend. Prices are trading above the $10.5 level after breaking out of a symmetrical triangle pattern.

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

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