Polkadot (DOT) Price Analysis: June 21

• On June 21, the bullish DOT price analysis is at $8.03.
• DOT’s bearish market price analysis for June 21, 2022, is $6.47.
• Polkadot’s MA shows a downward trend.

In Polkadot (DOT) price analysis on June 21, 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 21 is 2022 is explained below within a four-hour time frame.

An ascending channel is the price action contained between upward sloping parallel lines. Higher highs and higher lows characterize this price pattern. An ascending channel is used to show an uptrend in a security’s price. Ascending channels are short-term bullish in that a stock moves higher within an ascending channel, but these patters often form within longer-term downtrends as continuation patterns.

Currently, the price of DOT is $7.83. If the pattern continues, the price of DOT might reach the resistance level of $8.03. If the trend reverses, then the price of DOT may fall to $6.47 and the sell level of DOT is $7.66.

Polkadot (DOT) Moving Average

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

Currently, DOT is in a bearish state. Notably, the DOT price lies above 50 MA (short-term) but lues below 200 MA (long term). Henceforth, when DOT completely moves above 50 & 200 MA then it is said to be a bullish 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.