Polkadot price analysis shows that the prices are currently in an uptrend and are expected to continue rising in the near-term. However, prices are facing some resistance at $10.0.
Looking at the 4-hour chart, we can see that prices have been on an uptrend since mid-March. Prices reached a high of $8.85 on April 5 and have been consolidating around the $8.0 level since then.
The 50-day moving average (MA) has been trending upwards and is currently at $7.85 while the 200-day MA is at $6.79. These MAs are providing strong support to the prices and are likely to continue doing so in the near-term.
The Polkadot prices have been on a tear over the past few weeks and they have now set a new all-time high at $10.0. However, the prices are facing some resistance at this level and they have already started to pull back.
Polkadot price movement in the last 24 hours: Bulls gear up to push prices higher past key resistance at $10
Polkadot price analysis shows that the prices are currently in an uptrend and are expected to continue rising in the near-term. However, prices are facing some resistance at $10.0.
DOT/USD 1-day price chart, source: TradingView
The Bollinger Bands on the 1-day Polkadot price analysis chart have started to expand, which indicates that volatility is rising. The RSI is currently at 68.1 and it looks like it has room to move higher.
On the downside, there is strong support at $7.31, which is the level of the confluence of the 50-day MA and the 200-day MA. As long as prices remain above this level, we can expect the uptrend to continue.
DOT/USD 4-hour price chart: Recent price movements
Looking at the 4-hour Polkadot price analysis chart, we can see that prices have been on an uptrend since mid-March. Prices reached a high of $8.85 on April 5 and have been consolidating around the $8.0 level since then.
The RSI is currently above the 50 level, which indicates that the bulls are in control of the market. The MACD is also rising, which indicates that the prices are likely to continue rising in the near-term.
The DOT/USD pair is currently trading at $9.76 and is facing resistance at $10.0. If the prices can break out of this level, we can expect them to move higher towards the $12.0 level.
DOT/USD 1-day price chart, source: TradingViewThe DOT/USD pair is currently trading at $9.76 and is facing resistance at $10.0. If the prices can break out of this level, we can expect them to move higher towards the $12.0 level.
Polkadot price analysis conclusion
In conclusion, Polkadot prices are currently in an uptrend and are expected to continue rising in the near term. The key support levels to watch out for are $7.85 and $7.31. If the prices can break out of this level, we can expect them to move higher towards the $12.0 level.
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Source: https://www.cryptopolitan.com/polkadot-price-analysis-2022-05-14/