of Polka dot Price analysis shows that the price function is once again facing bearish resistance after the bearish trend has returned to the market.Price has retreated to the $7.01 level over the past 24 hours and is likely to return to $7.01 in the next few hours. expected to fall further. There has been some ups and downs in price action over the past week, so there has been a constant shift in trend and the balance of power is in favor of the bears, and today the bears are once again in a leading position. The chances of the bulls finding a recovery today are fading and the coin could fall into the $6 range any time soon.
DOT/USD 1-Day Chart: Cryptocurrencies Take Damage Again
24hours polka dot price Analysis shows that the bears are aiming for a resurgence and have pushed the price down to $7.01 today. Yesterday’s uptrend was interrupted by a bearish strike and today the price fell again as the coin lost his 0.12% nominal value in the last 24 hours. Prices are constantly fluctuating, so expect a further change in trend in the coming week. The Moving Average Indicator (MA) on the 1-day price chart shows a value of $7.26 above the current price, but it could soon break below SMA 50 as a bearish sign.
The volatility level has been the same for the last 24 hours as the Bollinger Bands maintain their distance. The upper limit of the indicator is at $7.82, which represents resistance, while the lower limit of $6.69 represents support. The Relative Strength Index (RSI) score is in the lower neutral range at index 43, which is still a good score, but the slight downward curve of the indicator suggests selling activity in the market.
Polkadot Price Analysis: Recent Developments and Further Technical Indications
Polkadot price analysis’s 4-hour price chart shows that the price was down for up to 4 hours at the start of today’s trading session as the price breakout was on the downside. However, the price has started to rise again in the last 4 hours. This shows that the bulls are striving for acquisitions, but the bears are still in a dominant position. The moving average is trading at $6.80 on the 4-hour chart.
The SMA 50 curve is trading above the SMA 20, confirming significant bearish pressure on cryptocurrencies. Volatility is low as the Bollinger Bands have a high end of $7.17 and a low end of $6.80. The RSI score was falling, but is now up to index 45, suggesting buying activity in the market.
Technical indicators for Polkadot price analysis show bearish signals. Cryptocurrency Already bearish influence. There is only one indicator that provides buy signals, 10 indicators for neutral positions and 15 indicators that provide sell signals.
Conclusion of the Polkadot price analysis
The price has suffered losses in the last 24 hours as confirmed from the 1-day and 4-hour Polkadot price analysis. The bears are trying to hold on to the higher positions on the price charts, pushing the price down to $7.01. After a steady decline in the coin’s value, it is very likely that the coin’s value will fall further in the next few hours as hourly forecasts support a bearish trend. Polkadot seems to be strictly in the range for now and could stay in the same range today.
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