• Thu. Apr 18th, 2024

Bullish Moves Push Polkadot (DOT) Beyond $5.81 – Price Analysis

Nov 13, 2022
  • DOT price outlook favors bullishness.
  • DOT-USD has resistance at $5.95
  • Polkadot’s reliable support stands at $5.69.

Polkadot price reveals a climbing trend for the altcoin today as DOT saw an impressive uptick, hitting above $5.81. DOT-USD has its nearest resistance at $5.95, whereas the support mark hovered near $5.69.

Meanwhile, the current bullish strength seems to persist as traders/investors join the scene to push prices higher. DOT opened near $5.80 today before experiencing stable price gains throughout the day. Moreover, there’s room for further upside.

DOT 1-D Price Chart – Bulls Pushing Higher

Polkadot’s one-day analysis displays massive bullishness for the alt today, with DOT witnessing attractive improvement. Buyers maintained persistence within the past 24 hours. Moreover, conditions seem to favor bulls as the price surged toward the $5.81 high, gaining 5.82% since closing yesterday at $5.71.

The one-day chat volatility remained at the lowest mark, signaling stable uptrends. To identify the support zone, we may consider the lower Bollinger Bands at $5.48 & the upper one at $5.75, meaning the alt secures massive support within this range.

Moreover, the MA indicator hovers at $6.21, backing the upside trend. Also, the Relative Strength Index flashes bullishness at 51.32, suggesting that the coin is yet to undergo overbought conditions and prices can climb further.

Polkadot 4hr Chart – Continued Bullishness

The hourly DOT outlook favors buyers as DOT-USD reflected a massive value surge over the last few hours. Bulls have confirmed their dedication to regaining the top spot in the market, and their efforts seem fruitful.

The past four hours saw the price soaring to $5.81 as bulls led the bias in that timeframe. Also, DOT crossed the $5.78 Moving Average – revealing another lucrative signal for the buyers.

The Relative Strength Index read 43.04, suggesting an optimistic bias in the upcoming times. Also, the Bollinger Bands indicated upside trends, with the lower band at $5.68 and the upper one at $5.85, meaning the altcoin exhibited a massive upside momentum within the range.

Conclusion

Bulls have shown their presence in the marketplace according to the 4hr and 1-day DOT price outlook. Moreover, the past 24hrs saw an enormous bullish wave dominating, pushing the price to $5.81. The current bullishness may continue. Nevertheless, minor corrections could emerge as long actions exhaust bulls.

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