Today’s Polkadot price analysis shows a further decline in price. After suffering extreme losses yesterday, when the price crashed from $33.7 to $29.3 and then swing as low as $27 per hour, the price has fallen to $28.7 today. Today’s DOT/USD price decline has been ongoing since November 5th. It reached a low of $28.7 today, after a month of declining. The price is currently below the September consolidation level before it began its climb towards the higher side.

Market Pressure

Today’s one-day Polkadot price analysis shows a bearish trend as the price has fallen today. The bearish momentum is continuing for the past few weeks and it continues today. After the latest drop, the price has fallen to $28.7. The MA (moving average indicator) is at $34.8 above the price level.

Relative Strength Index (RSI), index 28 in the oversold area, indicates unfavorable conditions for DOT. The volatility has been higher for a long period, and the volatility is the same. The Bollinger Band’s upper value is $45, while the Bollinger Band’s lower value is $29, and prices are trading below the lower value. Bollinger bands average $37

DOT’s Market Value

Yesterday’s price drop was very damaging to DOT’s market value. The current price is still below that of the moving average, which is currently at $29 on the 4-hour chart. As a result of a bullish trend that has been observed over the last four hours, the price is on the rise once more. Although the price did recover briefly yesterday, it has since fallen again. The most recent trend favors bulls.

  What is a Bitcoin Miner Consolidation?

Bollinger bands average has been maintained at $32, while the upper Bollinger band shows a $39 value and the lower Bollinger band shows a $25 value. This represents high volatility range for the DOT. The RSI curve is hovering just at the borderline between the neutral and oversold zones at index 30.8. This is due to the last green candlestick. However, the pressure seems to still be there.

If we look at the DOT’S progress over the past month, the price is moving in a downward direction. The technical indicators chart for USD/DOT shows a bearish trend with only one indicator on buying, eight on neutral and 16 on selling.

Polkadot Price

The Polkadot price report shows that a downward trend in price has been observed over the past 24-hours. This is a continuation to the bearish trend. The price fell to $28.7 due to the downward trend that has been evident for the past few days. Yesterday’s steep plunge caused the price to drop. The price could fall as the last candlestick of the four-hour price chart might turn red. This is because the momentum is not favorable for bulls and the RSI is indicating that.

  How Much is one Bitcoin?

 

How useful was this post?

Click on a star to rate it!

Average rating / 5. Vote count:

No votes so far! Be the first to rate this post.