Polkadot (DOT) Price Analysis: June 1

• On June 1, the bullish DOT price analysis is at $11.90.
• DOT’s bearish market price analysis for June 1, 2022, is $9.15.
• Polkadot’s MA shows a upward trend.

In Polkadot (DOT) price analysis on June 1, 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 June 1 2022 is explained below within a four-hour time frame.

The above chart shows the Head & Shoulder pattern. This pattern is a chart that appears as a baseline with three peaks, the outside two are close in heights and the middle is highest. Head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal

Currently, the price of DOT is $10.58. If the pattern continues, the price of DOT might reach the resistance level of $11.90 and the buy level of $11.05. If the trend reverses, then the price of DOT may fall to $9.15 and the sell level of DOT is $9.80.

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 also lies above 200 MA (long-term). 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.