Polkadot price analysis 14th September 2022

Polkadot’s price analysis for today shows that the bulls are trying to fend off the bearish pressure. The DOT/USD price found support at the $7.04 level as the bulls recovered from the last three days of bearish dominance.

Polkadot price analysis

As buyers tried to overcome the downward pressure, DOT prices edged up to $7.13 after finding support. However, the downward pressure remains and there is a possibility that the price of the cryptocurrency could fall further. The $7 range is still proving to be a surviving DOT pivot.

DOT/USD 1 day price chart: bulls start price action

The 1-day price chart for Polkadot price analysis shows that the bulls have managed to buck the trend in their favor for now, but the gains are small and could turn negative at any time.

The DOT price hit $7.13 as the coin is still down 7.23 percent in value over the past 24 hours due to yesterday’s crash. On the other hand, the coin registered a 1.73 percent gain over the past week as a price trend line before staying up. Trading volume was also light today, down 3.51 percent for a market dominance of 0.80 percent.

Volatility is low and Bollinger Bands show the upper band at $7.82 representing resistance and the lower band at $6.70 representing support. The average Bollinger Bands is $7.26. The moving average (MA) is above the 50 SMA at $7.40. The Relative Strength Index (RSI) is trading at the bottom of the neutral zone on the 43 index but is now in an uptrend.

Polkadot Price Analysis: Recent Developments and Additional Technical Notes

The 4 hours price chart for Polkadot price analysis shows that the previous day the bulls reigned pushing the price level higher, but now the bears have entered again. The last four hours have also shown bearish activity as the price turned bearish again, recently dropping to $7.14.

Relatively higher volatility. Bollinger Bands values ​​are as follows; The top bar is at $8.10 and the bottom bar is at $7.01. Bollinger Bands average $7.56 above the price level. The moving average is trading below the 50 SMA curve at $7.34. The Relative Strength Index (RSI) is in the neutral zone at 37 and the curve shows a lack of momentum on both sides of the market.

Conclusion of Polkadot price analysis

The 1-day price chart from Polkadot’s price analysis shows bullish signs for the cryptocurrency, but the 4-hour chart shows negative moves as the overall crypto market is recovering today and DOT/USD is also trending.

We expect the cryptocurrency to continue higher in the next 24 hours to retest the $7.27 resistance if the bulls resume.

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