Polkadot Price Analysis: DOT/USD gears to touch $14

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This is a quick update to let you know that I’ve done some research on the Polkadot price, based on the number of transactions in the past 24 hours.  I’ve been able to find 1,813 transactions with the current price, which is close to 10 transactions per minute.  The average transaction has a value of 0.0060 BTC.

While it has been some time since we have seen the price of the cryptocurrency Polkadot touch $13.5, the latest price movement has brought DOT to move above this crucial hurdle. After the weekend, the price of DOT/USD broke through the $13.5 line to post a new all-time high. It is still far from hitting the promised $14, but this move signals that the bullish momentum is in full swing, and will likely see the price of DOT move towards this target sooner rather than later.

Polkadot is a blockchain network and protocol and platform that will be a built-in layer on top of Ethereum. It’s primary purpose is to create a scalable and secure framework for the development of decentralized applications (DApps) and permissioned blockchains.

TL;DR Summary

  • DOT/USD is trading bullish today, according to Polkadot pricing research.
  • The price movement and volatility have both improved significantly.
  • Polkadot’s next goal is $14, where the tables may turn.
  • Due to growing bullish momentum, MACD and RSI indicate excellent possibility for future rise.
  • Day traders have a lot of opportunities to make money in the short term.

Polkadot price analysis, like yesterday’s, indicates a steady recovery. The bulls seem to have broken through the barrier overnight. Polkadot’s price is anticipated to rise higher from here. Despite the fact that Polkadot failed to hit the $16 barrier today, it has made significant progress.  

Polkadot Price Analysis: DOT/USD gears to touch $14Coin360’s cryptocurrency heat map

The market today seems to be very turbulent and uncertain. While Ethereum and Bitcoin, the two major competitors, have gained 0.44 percent and 2.75 percent, respectively, altcoin markets such as ADA, DOGE, and BNB have lost ground.

Despite the fact that Polkadot is trading with optimistic emotions today, the market has risen by more than 3.9 percent.

Polkadot Price Analysis: DOT/USD gears to touch $14TradingView’s Polkadot Price Chart

The DOT/USD market is now bullish, according to our one-day graph. The RSI is steadily rising and has now hit 43. Today, the MACD also displays the histogram above one. Despite the fact that the value is not great, it is still a good development.

According to Polkadot price research, these indications indicate that the bulls are giving resistance a difficult time today. As a consequence, anticipate more gains over the following several days, with the next goal set at $14 for the time being.

Price Changes in DOT/USD in the Last 24 Hours

Polkadot Price Analysis: DOT/USD gears to touch $14TradingView’s Polkadot Price Chart

DOT/USD is now trading between $12.1 and $13.2. The optimistic mood, though, may drive the price higher in the coming hours. In particular, the past four hours have seen a significant rebound, with the price rising from $12.6 to $13.2 in a positive trend.

On the one-hour graph, the RSI is presently at 70.78, indicating a market that is heavily undersold. Polkadot price research predicts that the tables may flip at any time, resulting in a severe drop. The bulls, on the other hand, have been gathering significant momentum over the past four hours, as shown by the MACD analysis.

The DOT/USD market value is now at 11.741 billion, with a trading volume rise of 3.83 percent in the past 24 hours. As a result, DOT/USD is now ranked 9th in terms of market capitalization.

4-hour Polkadot price analysis chart – Are we on the verge of hitting the $14 target?

Polkadot Price Analysis: DOT/USD gears to touch $14TradingView’s Polkadot Price Chart

This graph likewise shows a market that is quickly expanding. The RSI is presently at 64.9, and the slope is quickly rising. Furthermore, MACD 4-hour analysis reveals that the histograms are mainly green, with the present level of 0.24.

All of this suggests that Polkadot is getting ready to rebound a bit more in the coming hours. Day-traders seem to have chosen to hang on to their shares after the recent drop on the 19th and 20th of July, despite the market being undersold.

However, if the price hits the previous support level of $14, the tables may flip. In that sense, the current rebound will be fleeting in the long run.

Conclusion of the Polkadot Price Analysis

Today, the Polkadot price analysis seems to be very optimistic, with the market exhibiting strong growth potential. For the time being, the next goal for DOT/USD is $14.

Day traders, on the other hand, should keep in mind that the market is still very volatile. As a consequence, the bulls may get tired at any time, allowing opposition to take control.

Disclaimer: The material on this website is not intended to be trading advice, and.com assumes no responsibility for any investments made as a result of the information on this page. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.

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Emilia James
By Emilia James

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