Polkadot Current Price Struggles to Breach $18.45

Polkadot Price Analysis
  • Polkadot performed positive momentum on Saturday’s trading session
  • Polkadot current price is $17.90, which is up by 8.65% in last 24 hour time frame and is 21.04% up from the previous week
  • DOT/BTC pair is positive with a gain of 4.89% in Saturday’s trading session (0.00054516)
Source: Coinmarketcap

Polkadot had positive momentum on the weekly chart, and it went up to $19.32 on January 16, 2021, while breaking above the resistance zones created in the past. DOT price set a mark of all-time high with help of overall market conditions. The DOT/ETH pair is in downtrend with a value of 2.90% in Saturday’s trading session (0.014286).

Polkadot Technical Chart Indicates a Bullish Momentum

Source: TradingView

The technical chart of Polkadot highlights a positive trend with the help of overall market conditions on Saturday’s trading session. Polkadot current price is $17.90, with a resistance zone of $18.45, following the support zone of $10.59. Diving into the weekly chart of 1-hour time frame, it forms a three inside up candlestick pattern, indicating the bulls have overwhelmed the bears and are now in control.

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The Volume indicator of value (519.224K) reflects a moderate buying volume in coin with the overall market’s help. One can further see an increase in buying volume in the next few trading sessions.

MACD indicator (Bullish), no bearish crossover signal line is spotted on January 23, 2021, during the trading session, it indicates a buy signal in the coin. Also, it denotes massive green bars in the Histogram.

Meanwhile, the RSI indicator (Bullish) with a value of 68 indicates a buy signal in the coin. It may soon move towards the overbought territory if buying increases in the coin.

Conclusion 

Polkadot current price is up by 8.65% on Saturday’s trading session. The price is struggling to break out from the resistance of $18.45. If it breaks and sustains above the resistance, one can further expect a bullish trend in the coin till the next resistance level of $20.89.

Resistance: $18.45, $20.89

Support: $10.59

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Nikhil Ingolehttp://themarketperiodical.com
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

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