Polkadot (DOT) Price Analysis: June 22

• On June 22, the bullish DOT price analysis is at $8.78.
• DOT’s bearish market price analysis for June 22, 2022, is $6.47.
• Polkadot’s MA shows an upward trend.

In Polkadot (DOT) price analysis on June 22, 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 22, 2022, is explained below within an hourly 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 patterns often form within longer-term downtrends as continuation patterns.

Currently, the price of DOT is $8.10. If the pattern continues, the price of DOT might reach the resistance level of $8.78 and the buy level is $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 bullish state. Notably, the DOT price lies above 50 MA (short-term) and 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.