Polkadot price analysis shows a bullish trend in the DOT/USD market. After breaking out the symmetrical triangle pattern, prices are trading above the $10.5 level. The breakout has set key support at $10.0.
Polkadot price analysis shows that the DOT/USD market is in a bullish trend. After breaking out of a symmetrical triangle pattern, prices are trading above the $10.5 level. The breakout has set key support at $10.0.
The MACD on the daily chart is bullish with a strong upward trend. The RSI is also in overbought territory above 70. However, the Stochastic RSI is currently in the bearish territory with a crossover.
The current market conditions indicate that the price of DOT is likely to continue to rise in the short-term. However, the long-term prospects for the DOT/USD market remain bullish.
DOT/USD price action on a 1-day price chart: Rebound seen from the $10 level
The recent Polkadot price analysis shows that the DOT/USD market is in a bullish trend. After breaking out of a symmetrical triangle pattern, prices are trading above the $10.5 level. The breakout has set key support at $10.0.
The MACD on the daily chart is bullish with a strong upward trend. The RSI is also in overbought territory above 70. However, the Stochastic RSI is currently in the bearish territory with a crossover.
DOT/USD 1-day price chart, source: TradingView
The current market conditions indicate that the price of DOT is likely to continue to rise in the short-term. However, the long-term prospects for the DOT/USD market remain bullish.
The recent Polkadot price analysis shows that the DOT/USD market is in a bullish trend. After breaking out of a symmetrical triangle pattern, prices are trading above the $10.5 level. The breakout has set key support at $10.0.
Polkadot price analysis on a 4-hour price chart: Head and shoulder trading patterns
The 4-hour chart is in head and shoulder pattern with a bearish divergence on the RSI. The MACD is currently in bearish territory. Prices are likely to retrace back to the $10.0 level in the short term.
DOT/USD 4-hour price chart, source: TradingView
The current market conditions indicate that the price of DOT is likely to continue to rise in the short-term. However, the long-term prospects for the DOT/USD market remain bullish.
The MACD on the daily chart is bullish with a strong upward trend. The RSI is also in overbought territory above 70. However, the Stochastic RSI is currently in the bearish territory with a crossover.
On the 4-hour chart, the MACD is bullish and is currently in a strong upward trend. The RSI is also in overbought territory above 70. However, there is a bearish divergence in the current market conditions indicating that the price of DOT is likely to continue to rise in the short term. However, the long-term prospects for the DOT/USD market remain bullish.
Polkadot price analysis: conclusion
Polkadot price analysis reveals that the DOT/USD market is in a bullish trend. Prices are trading above the $10.5 level after breaking out of a symmetrical triangle pattern.
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Source: https://www.cryptopolitan.com/polkadot-price-analysis-2022-05-17/