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- Polkadot current price resumes its positive momentum from yesterday’s market session resulting in a positive breakout above $9.00
- The DOT/ETH pair also turned positive with an overall gain of 12.18% bringing the current level to 0.008549 ETH
The weekly chart of Polkadot highlights the significant negative trend faced by the price levels after testing the critical resistance zone of $10.00. The bearish momentum was halted when the major support level of $7.00 came into play. The positive momentum provided by the support level was also witnessed during the current market session as the price levels had a positive breakout above $9.00. Polkadot current price is $9.17 with an overall gain of 12.19% bringing the market capitalization to $8,186,866,535 resulting in an increase of 10.16%. The 24-hour volume traded has reached $1,954,441,549 resulting in a decline of 28.48%.
Polkadot Current Price Crosses Above 50-EMA
The technical chart of Polkadot reflects on the negative trend faced by the price levels after reaching the critical resistance area of $10.00. Thereafter, the price levels bounced back strongly with the help of a support line placed at 0.5fib level. During the current market session, the levels had a positive breakout above 50-EMA providing bullish signals in the market. However, a positive crossover above the 0.236fib level will again put the levels into a critical resistance zone and one can expect volatility within the region.
The relative strength index (RSI) is showcasing a bullish nature with the current level of 61.96 and looking for a positive breakout to the overbought region.
The moving average convergence & divergence (MACD) had a bullish crossover and the levels looking for a climb above the histogram line.
The Stochastic RSI (Stoch) is also showcasing the positive nature as %K had a positive crossover against %D.
Resistance Level: $10.00
Support Level: $7.50
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
