Polkadot price analysis reveals that the market has been following a bullish trend for the past few days as the bulls have been securing wins consecutively. On the other hand, a correction was also observed yesterday, but the price underwent a significant increase in the last 24 hours as well because of the sudden rise in bullish momentum. The latest uptrend has increased the coin value to $6.86, which shows a promising situation for the buyers.
Polkadot price analysis daily chart: DOT trades in green after a bullish move
The 1-day Polkadot price analysis suggests a constant upward trend has been going on for the past week, as the buying activity almost reached its peak point. The bulls have been dominating the price chart for the past 24 hours as well, as the price went above the psychological mark of $6.98 at the moment. The situation is turning more favorable for cryptocurrency buyers, as DOT value is constantly increasing after gaining a 2.27 percent value during the last 24 hours.
Moving on, the moving average indicator is showing its value at $6.63 at present, and the MACD indicator is also showing a bullish crossover pattern in conjunction with increasing buying pressure. The RSI value is at 63.19, which demonstrates no signs of overbought conditions in the market. The Polkadot price analysis reveals that if the buyers keep securing wins then they could easily drive the price above $7.50 soon.
Polkadot price analysis: Recent developments and further technical indications
The four hours Polkadot price analysis shows an uptrend as the price has undergone a sufficient improvement in the past few hours. The latest price movement is bullish, and the bulls have managed to maintain their intensifying uptrend. The price is now at a much more stable position, at $6.86, and is expected to reach a further high point in the next few hours. The moving average value has moved up to $6.78, as the bulls are leading.
The 20-EMA is hovering above the 50-EMA, which shows that the bullish trend will continue. The MACD indicator also remains in a positive zone and it appears to be forming another bullish crossover pattern. Furthermore, the Relative strength index has shown an exceptional performance by reaching a high value of 60.52, which implies that the DOT market is bullish.
Polkadot price analysis conclusion
The daily and hourly Polkadot price analysis gives a strong bullish hint as the price has undergone a massive improvement today. The DOT price is now settling at the $6.86 level and is expected to increase further in the next couple of days. The bullish crossover in the technical indicators is backing DOT’s bullish trend, and the buyers may be able to take the price above $7.50 soon.