- 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.
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.
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