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Polkadot

Polkadot Price Analysis: DOT sets higher low at $31, bullish trend on the sides

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Polkadot price analysis indicates bullishness on the 24-hour chart after setting a higher low at $31. DOT has been trying to claim the $31 mark for days but failed desperately due to heightening resistance at $29.  And when traders thought the bulls had been exhausted and the price turned down towards $23.5 base, bulls came in and propelled Polkadot upwards, breaching the $30 barrier. 

Polkadot price movement in the last 24 hours: Tight range

According to our candlesticks on the 24-hour Polkadot price analysis, DOT traded within a narrow range that begins from a daily low of $31 to a daily high of $33.2. The total daily volume for DOT dropped by 39 percent to $2.9 billion. Coin Market Cap ranked Polkadot at number #9 with a market capitalization of $32 billion. 

DOT/USD 4-hour chart: DOT/USD starts to rally

On the 4-hour Polkadot price analysis candlesticks, DOT/USD price action is almost closing in near the daily high as the bulls continue increasing momentum. 

The layer one smart contracts token has witnessed significant gains in the past days, with a month-long rally worth 230 percent from $10.5 to $30. The coin did retrace lower from the $30 point for a few days before bouncing back and rapidly increasing on Tuesday night. 

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Polkadot price analysis
Polkadot price chart by TradingView

There is strong support at $25.5, where the bulls defend the price action from further upsides. 

On the 4-hour Polkadot price analysis MACD indicator, divergence favors the bulls, with the bars recording more greens than reds. The price action has broken below the lower band of the Bollinger Band as the space between the bands continues to contract to indicate decreasing trading activity. 

Polkadot Price Analysis: Conclusion 

Polkadot price analysis is positive, and traders are urged to expect gains in the next 24 hours. The coin has already recovered losses incurred in the past few days of retracement, and break-even traders hae already taken their profits. Hence suggesting there is more space for buyers to continue flooding the Polkadot market. 

Polkadot price analysis indicates bullish momentum to follow as the market started to rally earlier today after another lower low yesterday. Therefore, we expect DOT/USD to regain more of the loss and return towards the previous swing high at $29.

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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 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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