Polkadot (DOT) Price Analysis: April 20

• On April 20, the bullish DOT price analysis is at $20.30.
• DOT’s bearish market price analysis for April 20, 2022, is $17.12.
• Polkadot’s MA shows an upward trend.

In Polkadot (DOT) price analysis on April 20, 2022, we use price patterns, and Moving Average about DOT to analyze the future movement of the cryptocurrency. 

Polkadot (DOT)

DOT is the native cryptocurrency of Polkadot. A blockchain interoperability system protocol was established in 2016. It is a sharded blockchain, which means that many different chains are connected to the same network, which allows them to process and transfer data between chains in parallel without sacrificing security.

Polkadot (DOT) Price Analysis

DOT price analysis on April 20 2022 is explained below within a two-hour time frame.

The price action is contained between two parallel upward-sloping lines defined as an ascending channel. Higher highs and lower lows distinguish this price pattern. An ascending channel is formed by connecting the swing lows with a lower trend line and the swing highs with an upper channel line.

A breakout above an ascending channel may indicate that the upward trend will continue, whereas a breakdown below an ascending channel may indicate that the trend will change.

Currently, the price of DOT is $19.01. If the pattern continues, the price of DOT might reach the resistance level of $20.30 and the buy level of DOT is $19.63. If the trend reverses, then the price of DOT may fall to $14.20 and the sell level of DOT is $17.12.

Polkadot (DOT) Moving Average

The DOT’s Moving Average (MA) is shown in the chart below. 

Currently, DOT is in a bullish state. Notably, the DOT price lies above 50 MA (short-term) and 200 MA (long-term), so it is completely in an upward trend. Therefore, there is a possibility of a reversal trend of DOT at any time.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.