Polkadot (DOT) Analysis: Polkadot Current Price Crosses Above Bullish Mark of $9.00

  • Polkadot current price resumes its positive momentum from yesterday’s market session resulting in a positive breakout above $9.00
  • The DOT/ETH pair also turned positive with an overall gain of 12.18% bringing the current level to 0.008549 ETH 

The weekly chart of Polkadot highlights the significant negative trend faced by the price levels after testing the critical resistance zone of $10.00. The bearish momentum was halted when the major support level of $7.00 came into play. The positive momentum provided by the support level was also witnessed during the current market session as the price levels had a positive breakout above $9.00. Polkadot current price is $9.17 with an overall gain of 12.19% bringing the market capitalization to $8,186,866,535 resulting in an increase of 10.16%. The 24-hour volume traded has reached $1,954,441,549 resulting in a decline of 28.48%. 

Polkadot Current Price Crosses Above 50-EMA

The technical chart of Polkadot reflects on the negative trend faced by the price levels after reaching the critical resistance area of $10.00. Thereafter, the price levels bounced back strongly with the help of a support line placed at 0.5fib level. During the current market session, the levels had a positive breakout above 50-EMA providing bullish signals in the market. However, a positive crossover above the 0.236fib level will again put the levels into a critical resistance zone and one can expect volatility within the region.  

The relative strength index (RSI) is showcasing a bullish nature with the current level of 61.96 and looking for a positive breakout to the overbought region. 

The moving average convergence & divergence (MACD) had a bullish crossover and the levels looking for a climb above the histogram line.

The Stochastic RSI (Stoch) is also showcasing the positive nature as %K had a positive crossover against %D. 

Resistance Level: $10.00

Support Level: $7.50 

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Source: https://www.thecoinrepublic.com/2021/01/13/polkadot-dot-analysis-polkadot-current-price-crosses-above-bullish-mark-of-9-00/