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Polkadot

Polkadot Price Analysis: DOT Token Price Struggles To Cross The $14.8 Barrier

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  • DOT token chart shows a bearish crossover of the 100 EMA and 200-day EMA
  • The DOT/BTC pair was trading at 0.0003711 BTC with a gain of 4.72%
  • The 24 hr trading volume in DOT is $1.21 Billion
Source- DOT/USD on TradingView

The DOT token showed a remarkable 40% price recovery after bouncing from the $10.03 support level. However, this short rally was soon interrupted by the $14.8 resistance, as the price is facing intense selling pressure above this level. Furthermore, Today the price showcase another attempt to cross this resistance level but was again rejected, resulting in the formation of a Doji candle. Moreover, investors can also see the decrease in the volume activity as the price was approaching this level, suggesting a better chance of price reversal.

As per the EMA’s, token is trading below all the crucial EMA’s 50, 100, and 200, indicating a strong bearish trend. In addition, the 100 and 200 EMA has also given a bearish crossover, which could attract even more sellers in the token market.

The RSI (BULLISH) value is at 52, indicating a slightly bullish sentiment in the token.

Source-  DOT/USD On TradingView 

An Ascending Trendline Supporting The New Rally In DOT Token

The DOT token is rising with an ascending trendline in the 4hr time frame. This ascending trendline could be pretty helpful for DOT traders, as the chart shows a formation of an ascending triangle pattern, providing an excellent long opportunity for DOT traders. However, if the price decides to reverse from this $14.8 resistance, a breakdown from this trendline will offer a great confirmation for a short trader.

The MACD indicator (BULLISH) shows both the MACD and signal lines moving above the neutral zone (0.00), indicating a bullish momentum in the DOT token. However, these lines show some bearish divergence in the indicator, which could lead to a bearish breakdown from this trendline.

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Conclusion: From the technical perspective, the overall trend of DOT token is still bearish. Furthermore, the price action is currently at a make-or-break situation as the breakout from either side of the triangle pattern will decide the next move in the DOT token.

Support– $12.8

Resistance– $14.8

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Polkadot

Polkadot Price Analysis: DOT corrects below $30 mark, preparing uptrend

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  • Polkadot price analysis is bullish today
  • PolkaDot (DOT) has fluctuated in the range of $26 and $29.91
  • we may see a sideways movement in the Polkadot market

The Polkadot price forecast is bearish for today, as the market retraced over the last 24 hours after establishing a somewhat higher high yesterday. As a result, we expect DOT/USD to continue declining and to reverse more of its recent gains.

Polkadot price movement in the last 24 hours: Polkadot drops to $28

Over the past 24 hours, PolkaDot (DOT) has fluctuated in the range of $26 and $29.91, indicating a moderate amount of movement over that duration. Volumes have increased by 111.93% to $3.39 billion as the overall market value has declined to approximately $28.2 billion, putting it at position #11 overall. 

DOT/USD 4-hour chart: DOT set for further retracement?

Over the next several days, we may see a sideways movement in the Polkadot market, as shown by the 4-hour Polkadot price analysis chart.

Polkadot Price Analysis: DOT corrects below $30 mark, preparing uptrend 1

DOT/USD 4-hour chart. Source: TradingView

The price of Polkadot has increased significantly in the last few days. This week, after establishing a higher low around $23.5 on August 26, DOT/USD gained further momentum.

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After that, the momentum slowed and a somewhat higher high was established, suggesting exhaustion, DOT had increased about 45 percent. This price movement has resulted in a minor retreat during the previous 24 hours, with $32 serving as support for now.

However, since bulls are likely to be exhausted, we anticipate DOT/USD to recover next week and regain some of the gains made this week. The next support level is $30, with further support at the $29 previous swing high.

Polkadot Price Analysis: Conclusion 

According to Polkadot price analysis, a retracement is on the way, with Polkadot’s downward price movement suggesting that a retreat is on the way. As a result, we anticipate DOT/USD to drop further over the next 24 hours, stopping at $30 as support.

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Polkadot

Polkadot price at make-or-break point as DOT awaits a range breakout

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  • Polkadot price spots a potential symmetric triangle pattern on the 1D chart.
  • RSI stands neutral at 50.00, suggesting a lack of clear directional bias.
  • 21-DMA offers immediate resistance, 50-DMA guards the downside.

Having faced rejection just shy of the $34 mark on a couple of occasions, Polkadot (DOT) bears are tightening their grip, as a fateful week draws to an end.

Polkadot price is set to book a second consecutive week of losses, as the crypto market sentiment remains undermined by the latest PBOC crackdown, a potential default story of China Evergrande property developer group and Fed’s tapering signal.

DOT price is shedding 1.75% on the day, currently trading at $30.33. Polkadot is down about 15% on a weekly basis.

Polkadot bears are testing the bullish commitments

On the daily chart, Polkadot price is traversing in a three-week-old symmetrical triangle formation, with DOT bulls having failed to find acceptance above the falling trendline resistance just below the $34.

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Daily closing above the latter is critical to reverse the recent downturn, as it would validate a symmetrical triangle upside breakout, fuelling a fresh upswing towards the $40 threshold.

However, DOT buyers will first need to crack the immediate resistance aligned at the 21-Daily Moving Average (DMA) at $32.33 for any meaningful turnaround.

The 14-day Relative Strength Index (RSI) trades listlessly at the midline, suggesting that DOT price could yield a range breakout in either direction.

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DOT/USD daily chart

If the 21-DMA barrier continues to guard the upside, then DOT price could extend the pullback towards the ascending 50-DMA at $28.38, which will offer an immediate cushion to DOT bulls.

Sellers would then aim for the horizontal 200-DMA support at $27.70. The last line of defense for DOT bulls is seen at the rising trendline (triangle) support at $26.33.

A sustained break below the latter would confirm a triangle breakdown, calling for a sharp drop towards the mildly bullish 100-DMA at $22.08.

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Bitcoin

BTC, ADA, BNB and DOT Price Analysis for September 25

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Can altcoins retain their power against Bitcoin (BTC) in the mid-term scenario?

The weekend has begun with the bounceback of the cryptocurrency market as all of the top 10 coins are again in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has risen by 3.32% over the past 24 hours.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Despite the bounceback, Bitcoin (BTC) has not yet come back to the bullish zone as the chief crypto has not fixed above the resistance zone of $48,500.

However, if sellers keep pushing the price deeper, the drop may continue to the zone of the most liquidity around $37,000.

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Bitcoin is trading at $42,591 at press time.

ADA/USD

Cardano (ADA) is the biggest gainer from the list today as the price has rocketed by 10%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Cardano (ADA) has successfully bounced back to the support at $2.104 and is now trying to recover the lost positions. At the moment, the more likely scenario is accumulation in the range of $2.30-$2.50 so that bulls can get more power to get back to the resistance at $2.80.

ADA is trading at $2.380 at press time.

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BNB/USD

Binance Coin (BNB) has gained less than Cardano (ADA), with a growth of 3.85%.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

Despite the rise, Binance Coin (BNB) is located near the support zone, which means that bulls have not seized the initiative thus far. If the breakout happens, there may be a sharp fall to the next vital level at $240.

BNB is trading at $352 at press time.

DOT/USD

Polkadot (DOT) is trying to keep up with the rise of Biance Coin (BNB), as the growth has constituted 6.23%.

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DOT/USD chart by TradingView
DOT/USD chart by TradingView

Despite the rise, Polkadot (DOT) is trading below the vital $35 level. At the moment, neither buyers nor sellers are dominating, which means sideways trading is likely to continue within the next few days.

DOT is trading at $30.60 at press time.

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