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- Polkadot price action jumps from $29.33 to $46.04 on Saturday’s trading session
- The 24-hour volume in DOT is at $4,314,675,074 with a 52.80% increase
- The DOT/BTC pair was trading at 0.0007724 BTC with a gain of 21.10%
The 4-hour technical chart of Polkadot price action forecasts a positive trend. According to pivot points, DOT’s critical support levels are placed at $38.90 and 36.10. 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 strong 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 trend.
RSI indicator (OVERBOUGHT), with a value of 82.30, indicates an overbought situation in the coin. Moreover, Investors can see an upward slope in the index, and it may now cool down in future trading sessions.
The volume of (3.111M) represents a buying volume which is above the Volume MA (2.079M) of 20-days. High buying pressure is maintained in Polkadot to drive its price to higher levels.
Polkadot Gave An Outstanding Returns Of 40% In A Week
Polkadot price traded at $46.04 with a gain of 20.80% in the last 24-hour and 40% up in the weekly time-frame. Furthermore, Polkadot price framed a fresh record high of $46.50. In contrast, the market capitalization stands at $42 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 cool down in future trading sessions.
Support: $38.90 & $36.10
Mr, Nikhil Ingole is a Chief Editor at The Coin Republic with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain’s future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. 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.
