Polkadot Price Projection: DOT Buying Volume Surges By 180%

Polkadot bounced back from the support of $29.33
  • Polkadot price action jumps from $29.33 to $38.03 on Thursday’s trading session
  • The 24-hour volume in DOT is at $4,050,448,003 with a 181.30% increase
  • The DOT/BTC pair was trading at 0.0006502 BTC with a gain of 12.50%

The 4-hour technical chart of Polkadot price action forecasts a positive trend. According to pivot points, DOT’s critical support level is placed at $29.33. Whereas if it moves up, the key resistance level to watch is $39.78. While diving into the weekly chart of a 4-hour time-frame, it completes a bullish engulfing candlestick pattern representing a bullish trend with high reliability.

EMA- (8,13,21,55) acts as another strong support in the coin. EMA-8 (blue) intersects above the EMA-55 (red), which projects a bullish trend. The price is also above all the EMA’s. Investors may perceive a positive crossover in the EMA, and the price will also follow the positive direction.

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RSI indicator (BULLISH), with a value of 69.86, indicates a buy signal in the coin. Moreover, Investors can see an upward slope in the index, and it may soar in future trading sessions.

The volume of (2.504M) represents a buying volume which is above the Volume MA (1.525M) of 20-days. High buying pressure is maintained in Polkadot to drive its price to higher levels.

Polkadot Close To Reach Our Targets

Polkadot price traded at $38.03 with a gain of 12.0% in the last 24-hour and 25.96% up in the weekly time-frame. Furthermore, Polkadot bounced back from the support of $29.33. In contrast, the market capitalization stands at $35 billion. Technically, investors can perceive a positive crossover in EMA, and the price is sustaining above the 8-EMA. RSI index showcases an upward slope. Moreover, the price movement can stay in the overbought zone in future trading sessions.

Resistance: $40.0

Support: $30.0

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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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