• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
Polkadot

Polkadot To Fall To This Support Level Before Resuming Uptrend

anushsamal by anushsamal
2 weeks ago
in DOT
Reading Time: 2 mins read
Advertisement
Advertisement

Polkadot price noted a fresh decline on its one-day chart. The price of the altcoin has moved closer to its crucial support line in the same time frame. Over the last 24 hours, DOT has lost around 4% of its market value, and in the last week, DOT secured a 6% appreciation.

Related Reading: Ethereum Price Prediction: Is the Rally Just Getting Started?

The technical outlook displayed that the bulls were attempting to secure the price action in the market. Although the indicators reflected positive movement, the bulls were not entirely back in the market. Despite the demand for the coin increasing, DOT remained in bearish territory.

Buyers were also struggling to take sellers over entirely. If buyers do not re-enter the market over the next trading session, the altcoin will lose its present support level. In the event that DOT falls below the immediate price floor, the bears could gain control of the market for a considerable number of trading sessions.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Polkadot Price Analysis: One-Day Chart

Polkadot
Polkadot was priced at $6.19 on the one-day chart | Source: DOTUSD on TradingView

DOT was trading at $6.19 at the time of writing. Over the past week, the coin has recovered and pushed itself to revisit the $6 price zone. Overhead resistance for the altcoin stood at $6.41 and then at $6.80, respectively.

On the flip side, if DOT loses further value on its one-day chart, then the first stop would be at $6 and then at $5.70.

The inability to trade above $5.70 will bring Polkadot down to $5.33. The $5.33 level would also act as a propelling point for the Polkadot price. The amount of DOT traded in the last session was red, indicating that sellers were still in control of the altcoin.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Technical Analysis

Polkadot
Polkadot noted a decline in buyers on the one-day chart | Source: DOTUSD on TradingView

Despite recovery on the weekly chart, DOT declined at press time, as did its buying strength. The Relative Strength Index stood on the 50-line, with a decline at the time of writing. This meant that buyers started to exit the market.

This could be followed by a fall in price over the next trading session. Similarly, DOT trended below the 20-Simple Moving Average (red), which suggested that sellers were driving the price momentum in the market. Indicators point towards the possibility of a price drop in future trading sessions.

Polkadot
Polkadot displayed a buy signal on the one-day chart | Source: DOTUSD on TradingView

Other indicators have displayed mixed trading signals on the one-day chart. The Moving Average Convergence Divergence which indicates the price momentum and reversal formed green signals bars. These signal bars were tied to buy signals for the altcoin.

Related Reading: Ethereum Price Prediction: Is the Rally Just Getting Started?

This sign could mean that the price would fall in the upcoming trading session but would also recover after the fall. Bollinger Bands reveals price volatility and fluctuation. The bands grew closer to each other indicating that price volatility may decline in future trading sessions.

Featured Image From UnSplash, Charts From TradingView.com
Tags: DOTDOTUSDDOTUSDTpolkadot
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
anushsamal

anushsamal

Related Posts

Polkadot (DOT)

DOT Price (Polkadot) Prediction: Bulls Aim Fresh Surge To $7

2 days ago
Polkadot

Polkadot Finds Support At $6 – How Long Will The Bulls Stick Around?

1 month ago
Polkadot

Polkadot Can Resume Bullish Momentum Only If It Flips This Level Into Support

1 month ago
Tron And HT Plummets

DOT In Red Despite Polkadot Increase In Developer Activity

1 month ago
Polkadot

Polkadot (DOT) Holds 15% Gains On Weekly Chart As Top Coins Plunge Heavily

1 month ago
DOT

DOT Price (Polkadot) Prediction: Another Increase Possible If This Support Holds

1 month ago

Premium Partners

Play Finance

Trending Projects

  • 4 Best Upcoming ICO For 2023

    1 week ago
  • Crypto Investment for Long Term Growth in 2023

    1 week ago
  • 5 Cryptocurrency To Invest In 2023

    1 week ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
  • TMS Network (TMSN) Surges and Attracts Investors as Conflux...

    2 hours ago
  • TMS Network (TMSN) Storms Crypto Market while Chainlink...

    2 hours ago
  • TMS Network (TMSN) Outshines Competitors While Polygon...

    2 hours ago
  • Investors Turn to Metropoly as Immutable X and STEPN Rally...

    4 hours ago
  • Three Exciting Cryptos With Growth Potential: Axie Infinity...

    18 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.