- Polkadot performed a negative momentum on Monday’s trading session
- Polkadot coin price is $16.28, which is down by 1.75% in the last 24-hour time-frame and 12.27% down from the previous week
- DOT/BTC pair is negative with a loss of 2.79% in Monday’s trading session (0.00047384)
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 an all-time high. Meanwhile, the trading volume of $2,356,124,716.18 in the last 24-hour time-frame represents an increasing value of 5.68%. The DOT/ETH pair is in an uptrend with a value of (0.012281) which is up by 0.24% in Monday’s trading session.
Polkadot Technical Chart Indicates a Bearish Trend
The technical chart of Polkadot highlights a negative trend. In contrast, Polkadot coin price is at $16.28. According to pivot points, the key support level for DOT is placed at $15.23. If it moves up, the key resistance level to watch is $18.34. While Diving into the weekly chart of 15-minute time-frame, it completes a three white soldiers candlestick pattern, indicating the bulls have overwhelmed the bears and are now in control.
Volume indicator with the value (53.585K) reflects a buying volume in coin due to the overall market’s conditions. Investors can further expect an increase in buying volume in the next few trading sessions.
SMA-200, price is at $16.82, which acts as another strong support in the coin. The price is below the SMA, and investors can expect a bearish trend in the coin until it breaks above SMA for the upcoming trading session.
MACD (Bearish): bearish crossover signal line was spotted on February 01, 2021, during the trading session it indicated a sell signal in the coin. Also, it denotes the red bars on Histogram.
Meanwhile, the RSI (Bearish): with a value of 46.22 indicates a sell signal in the coin. It may move towards the oversold territory if further selling increases in upcoming trading sessions.
Conclusion
Polkadot coin price is down by 1.75% on Monday’s trading session. The price breaches below the SMA-200. Investors can see the price move towards the support level of $15.23 if selling increases. All technical indicators suggest a sell signal in the coin.
Resistance: $18.34
Support: $15.23
