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Polkadot price analysis: Cryptocurrency value grows above $35.75 as uptrend resumes


www.cryptopolitan.com 27 November 2021 21:30, UTC
Reading time: ~3 m

  • DOT value has reached $35.75 height.
  • Polkadot price analysis favors bulls.
  • Support is still present at $33.55.

Polkadot-price-analysis-2021-11-27″>The daily and hourly price charts display green candlesticks as DOT/USD value has undergone sufficient improvement today. The past few weeks have proved crucial for the bulls as the market was following a constant downtrend. But today, a slight shift in trends is being observed as the price has reached the $35.75 position once again.

DOT/USD 1-day price chart: Bulls reclaim $35.75 position after latest upturn

The one-day Polkadot price analysis indicates an upward price movement for the day as a bullish trend has been observed. Although the cryptocurrency underwent a significant decline in the past few weeks, today’s direction has been relatively supportive for buyers. The DOT/USD value is now standing at $35.75, and further recovery is only possible if the bullish momentum intensifies further in the coming days. The moving average (MA) value for the day is $39.31.

DOT/USD 1-day price chart. Source: TradingView

The long-term trending line is also moving descendingly, confirming the downtrend that has been dominating the market for the past few weeks. The upper Bollinger band value is now at $52.36, whereas the lower Bollinger band value is $33.55. The Relative Strength Index (RSI) score stepped up to 37.43 after the recent recovery.

Polkadot price analysis: DOT values $35.75 as bullish trend expands

The four hours Polkadot price analysis predicts a bullish trend as the price has been undergoing constant improvement for the past few hours. The bulls are struggling for recovery as the cryptocurrency value experienced a significant decline in the earlier hours. The price is now $35.75, which is expected to heighten further in the approaching hours. The moving average value for the four hours price chart is standing at $35.42.

DOT/USD 4-hours price chart. Source: TradingView

The volatility is increasing, which means that the price might experience a downfall in the next few hours if the bears succeed in making a comeback. This is why the upper and lower Bollinger band values have changed to $41.50 and $33.47, respectively. The RSI curve confirms the uptrend as well, and the score has improved to 39.07.

DOT/USD technical indicators chart. Source: TradingView

The technical indicators chart for DOT/USD is giving out a bearish signal as the past few weeks have been crucial for cryptocurrency’s progress. There is a selling indication with 13 indicators at the selling point, eight at the neutral point, and five at the buying point.

The Moving Averages Indicator predicts a definite bearish trend because of rising selling activity. 11 indicators are on the selling position, three are on the buying position, and only one is on the neutral position. The Oscillators give a neutral indication as seven indicators are on the neutral side, two hands are on the buying and selling sides.

Polkadot price analysis conclusion

The daily and hourly price predictions support the buyers as a significant rise in buying activity has been observed. The price is on its way to recovery as DOT/USD value reached $35.75 height in the last 24-hours. Further intensification in the bullish trend is expected as the hourly price chart displays green candlesticks. The past two weeks have brought quite detrimental consequences for the overall market value of DOT/USD. But now, the cryptocurrency is on its way to recovery as the price has followed an increasing movement today.

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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