Polkadot price analysis: Bullish rally drives DOT/USD prices to $6.16

Polkadot price analysis shows a bullish trend as the coin has recovered from its intraday low of $6.08 to reach a new high of $6.19. However, this level has acted as resistance for DOT, and prices have pulled back below $6.20. The current price stands at the $6.16 mark.

The market had a good run in the past few hours as prices surged by over 0.66 percent. However, the gains were short-lived as the market corrected lower. The market cap for the coin stands at $6,988,390,9027, and the 24-hour trading volume is at $178,587,798.

DOT/USD 1-day price chart: Bulls gear up for a push above $6.16

Polkadot price analysis over the past 24 hours shows that the coin had a good run as prices Show an uptrend. However, the gains were short-lived as the market corrected lower. The current market trend is bullish as the market looks to recover from the previous lows. The market is expected to resume its uptrend as prices look to test the $6.19 resistance level once again.

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DOT/USD 1-day price chart: Trading View

The MACD line is above the signal line, which indicates that the price is rising. The RSI indicator is at 42.12 which confirms the bullish market trend. The price is currently testing the $6.19 resistance level as it looks to resume its uptrend. The EMA is above the price as the market looks to resume its uptrend.

Polkadot price analysis on a 4-hour chart: Bulls stumble to keep control

The four-hour Polkadot price analysis confirms an increasing trend as the price has covered an upward movement in the past 4 hours. This can be confirmed from the four-hour price chart, where the green candlesticks appear, indicating a rise in coin value. The bullish momentum has successfully rescued the price above the $6.16 margin, and it seems like the bulls are going to achieve their next target soon.

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DOT/USD 4-hour price chart: Trading View

The RSI indicator is currently in the overbought region as prices look to consolidate at the current levels. The MACD indicator is also in the bullish zone as the market looks to resume its uptrend. The EMA indicator is currently in the bullish zone as the market looks to resume its uptrend.

Polkadot price analysis conclusion

Polkadot price analysis for today shows a bullish market as prices move higher. The market is currently in a corrective phase as prices move higher. The bulls are likely to push prices above the $6.19 resistance level as they aim for higher levels.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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