Polkadot price analysis is indicating a bullish price movement for today after the market trends shifted towards a bullish drift. The price value, after correcting down to $6.19, has taken an upturn and is currently trading at $6.47. The bears and the bullish traders are in a tug-of-war as the resistance for DOT/USD is seen at $6.52 and support levels are present at $6.19, any break above $6.52 could lead to further bullish price action while a break below support at $6.19 could lead to bearish movement.
The DOT/USD has gained a 4.31% increase in the last 24 hours and a 0.02% increase over the past 7 days. The trading volume for DOT is currently at $588,899,545 with a market capitalization of $588,899,545.
DOT/USD 1-day price chart: Price gains stability above $6.19 after bullish trend
The one-day Polkadot price analysis shows increasing chances of recovery for the bulls as a rise in DOT/USD value is observed. The price covered an upward movement today; as a result, the coin value has heightened up to $6.47. This is a promising sign for the buyers, as earlier, the situation was quite critical because of the downswing. The price is now standing higher than its moving average (MA) value which is $0.333.
The volatility is decreasing because of the constriction between the Bollinger bands, which is a positive sign regarding the upcoming trends. If we talk about the upper Bollinger band, its value is $6.48, whereas the lower Bollinger band shows $6.24 of value. The Relative Strength Index (RSI) score is at 50.43 now after the recent upturn.
Polkadot price analysis: Bullish rally elevates coin value up to $6.47 peak
The four hours Polkadot price analysis confirms a strong bullish trend as the price has undergone an extraordinary improvement in the last few hours. The overall recovery has been phenomenal as the price has surpassed the $6.47 hurdle in the last four hours. It can be highly expected that the price will soon cross the $6.52 resistance in the next few hours. The moving average value in the four hours price chart is standing at $6.37.
The volatility is increasing, which is alarming as more downtrends might come ahead. The upper Bollinger band value has thus changed to $6.50, whereas the lower Bollinger band value has now shifted to $6.21. The RSI score jumped high to 42.80 as the bulls have been leading the market for a while.
Polkadot price analysis conclusion
The hourly and daily price predictions for Polkadot price analysis are going in a bullish direction for the day because of the sudden recovery. The uptrend is at its peak as the price has reached $6.47 height in the last 24 hours. Further upside is to follow in the next few hours if the buyers put in efforts to achieve their next target.
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