Polkadot price analysis shows that the DOT token has increased by more than 3 percent over the past 24 hours of trading. The cryptocurrency is exchanging hands at a price around $8.30 after seeing a slight decline from yesterday’s high of $8.60.
Despite the decline, the price action is still in a long-term ascending triangle. The RSI indicator is currently struggling to remain above the 50 levels as the market momentum starts to bearish. If the bulls can push higher, initial resistance lies at $8.60.
At the time of writing, DOT is up by 3 percent against the US dollar and is changing hands at aat$8.30. The cryptocurrency has seen a slight increase totaling 3 percent over the past 24 hours; it currently exchanges hands at around $8.30. The price has significantly declined this week, falling from last Sunday’s high of $8.60. Despite the decline, the price action is still in a long-term ascending triangle.
Polkadot price analysis: RSI shows increasing buyer interest on the daily chart
On the 24-hour candlestick chart for Polkadot price analysis, the cryptocurrency is currently in a strong uptrend as it increases by 3 percent. The market is currently testing a very important level of resistance at $8.60. This is a level that the market has failed to close above on three separate occasions over the past week.
The RSI indicator is currently struggling to remain above the 50 levels as the market momentum starts to bearish. If the bulls can push higher, initial resistance lies at $8.60. Above this, further resistance lies at $8.80 and $9.
The 4-hour candlestick chart for Polkadot price analysis shows that the market is currently in a strong uptrend as it increases by 3 percent. The market is currently testing a very important level of resistance at $8.60. This is a level that the market has failed to close above on three separate occasions over the past week.
The RSI indicator is currently struggling to remain above the 50 levels as the market momentum starts to bearish. If the bulls can push higher, initial resistance lies at $8.60.
Polkadot price analysis: Conclusion
Overall, the market is in a long-term ascending triangle. The RSI indicator is currently struggling to remain above the 50 levels as the market momentum starts to bearish. If the bulls can push higher, initial resistance lies at $8.60. Above this, further resistance lies at $8.80 and $9.
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