Polkadot (DOT) Analysis: Polkadot Current Price Crosses Above Bullish Mark of $9.00

  • 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

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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 

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Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.

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