Polkadot Price Prediction – September 29
In the wake of keeping the impact of the retracement motion in place on a lighter-moving mode, the DOT/USD market operation is nearing the $6 line. Yesterday’s business recorded a low of $6.19 and a high of $6.46. Price is trading around $6.38 at an average minute percentage rate of 0.16 negative.
Polkadot (DOT) Statistics:
DOT price now – $6.38
DOT market cap – $7.2 billion
DOT circulating supply – 1.1 billion
DOT total supply – 1.2 billion
Coinmarketcap ranking – #11
Resistance levels: $8, $9, $10
Support levels: $5, $4, $3
DOT/USD – Daily Chart
The DOT/USD daily chart reveals the crypto market is nearing the $6 trading level that can serve as the support baseline for subsequent upswings. The 14-day SMA indicator is at $6.78, beneath the $8.08 value point of the 50-day SMA indicator. The ups and downs have continually been in the range-bound spots of $10, $8, and $6, making two range-trading layers. The Stochastic Oscillators have crossed northbound from the oversold region to the 71.26 and 74.96 range lines. And they have attempted to close their lines.
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Are forces to signify that DOT/USD market will surge upward past the smaller SMA barrier trading value soon?
As currently indicated by the reading of the Stochastic Oscillators, the DOT/USD market appears not summoning the ideal energy to surge past the smaller SMA barrier trading point in the near time as the trade is nearing the $6 level from a high zone. Long-position placers may have to back up their entry positions with an active price action emanating from a depth of a lower-trading spot around the value line in question.
On the downside of the technical analysis, the DOT/USD market sellers have to be wary of a rebound that can resurface in no time if the market tries to resort to a downward-moving mode from around the trend line of the 14-day SMA. The least higher-resistance trading spot for bears to reaffirm their presence in this trade is around the $8 level. It only takes a matter of time before short-position placers should wait until then to observe the situation afterward.
DOT/BTC Price Analysis
Polkadot is on the verge of losing slightly further to Bitcoin’s trending capacity. The 14-day SMA indicator is underneath the 50-day SMA indicator, bending briefly southward over the current featuring spot of the trading candlesticks. The Stochastic Oscillators have crossed southbound from around the 60 range line to the range values of 55.19 and 48.79. That signifies the base crypto may be taking time before pushing back northwardly against the counter-trading crypto.
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