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Polkadot price analysis: DOT struggles to move above $31, will the bulls rally continue?

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  • DOT gets mixed market sentiment according to Polkadot price analysis.
  • Support is present at $28.5 for DOT/USD.
  • Resistance is found at $33.3.

The Polkadot price analysis reveals market is showing mixed sentiment. The price movement is negligible today as DOT/USD price is fluctuating only to the extent of a few decimals up or down after reaching the $31 limit at the end of yesterday’s session. DOT/USD pair is struggling to get past the level of $31 towards the next resistance of $33, as the selling pressure exists at the current price level, but bulls are also not giving up, and the price is just oscillating between both the sides.

As the broader crypto market is observing, many coins are going through correction today after reporting fundamental gains yesterday, though still, most cryptocurrencies are in greens if accounted for the last 24 hours. A few cryptocurrencies, including Polkadot, are still struggling for more uprise, as buyers’ support is still there for them, which is a hopeful sign for the coming days’ price function.

DOT/USD 1-day price chart: Bulls yet not giving up

The 1-day price chart for Polkadot price analysis shows minimal price movement as both sides of the market are competing for price dominance. Due to this very reason, DOT/USD price has not stepped down like most cryptocurrencies. There exist ample chances of bulls gaining control over price function.

Polkadot price analysis: DOT struggles to move above $31, will the bulls rally continue? 1
DOT/USD 1-day price chart. Source: TradingView

The volatility is comparatively high for DOT/USD pair as the Bollinger bands show a little expansion, but not abrupt, with the upper band at the $38 mark and the lower band at the $24 mark. The mean average of the indicator is still below the price level at the $31 mark.

The relative strength index (RSI) is at 53 index, near the center of the neutral zone, and shows a perpendicular movement, which indicates fierce competition between both sides of the market.

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The MACD oscillator indicator is still bearish, but it suggests a declining bearish momentum, as is evident from the light color of the histogram. The small size of bars also suggests that bulls are overpowering the bearish trend, and the histogram is expected to take a bullish crossover if bulls succeed in dominating today,s price function.

Polkadot price analysis: recent developments and further technical indications

The 4-hour price chart for Polkadot price analysis shows the price breakup was downwards at the start of today’s session as bears continued their lead from the last hours of yesterday’s closing. Soon after, bulls took over and recovered the loss in price, which shows bulls are not allowing the price degradation as of now ad at this time, both parties are fighting for price control, for which there are ample chances of bulls winning over.

Polkadot price analysis: DOT struggles to move above $31, will the bulls rally continue? 2
DOT/USD 4-hours price chart. Source: TradingView

As can be seen in the 4-hours chart, the volatility is high as Bollinger bands started expanding excessively from 1st October and the indicator also shows an upwards breakout on the 4-hour chart, which is a further indication of the price expected to go up in the coming hours.

The moving average (MA) is present below the price level at the $31 mark; the MA10, MA20 and MA30, all suggest price to go up in the coming time. The exponential moving average EMA10, EMA20, and EMA30, also favor the bullish side of the market. The oscillators, on the other hand, are mostly neutral except the Momentum and MACD.

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Polkadot price analysis: Conclusion

The Polkadot price analysis suggests a sluggish price movement, as there exists some selling pressure above the current price level, but efforts from the bullish side are also on the go. The RSI is quite high on the 4-hour charts, which shows buyers are still present in the market, and the expansion of Bollinger bands all suggests the DOT/USD price may move up in the coming hours, and we expect it to reach the level of $33. But the resistance of $33.3 can only be surpassed if DOT gathers enough support from traders.

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Bitcoin Price Flash Crashed 87% to $8200 on Binance US

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Several flash crashes occurred in the crypto markets today, with the most considerable one being BTC dropping to $8,200 on Binance.US.

After yesterday’s new all-time high at $67,000, bitcoin corrected today with a steep decline to below $64,000. On some exchanges, though, the crash was significantly more violent as BTC dropped as low as $54,000 on Kraken and to four digits on Binance.US.

  • October 20th was a historic day for the primary cryptocurrency as it finally skyrocketed above its previous all-time high and peaked at $67,000. It happened on the wings of the recently approved Bitcoin Futures ETF in the US.
  • After a brief correction hours later, BTC was closing down on its new record earlier today, when the situation rapidly changed.
  • In a matter of minutes, bitcoin went from $66,700 to $63,600 on most exchanges (including Bitstamp).
  • On others, though, such as Kraken and FTX, the price decline was significantly more severe.
  • In an apparent flash crash event, meaning the price of the asset dumped by a large percentage and spiked back up immediately, BTC went to a low of $58,500 on FTX.
  • On the veteran US trading venue, Kraken, bitcoin dumped all the way down to $54,100 before recovering to its current level of roughly $65,000.
  • However, none had it worse than Binance.US. The American branch of the largest crypto exchange saw BTC nosediving to $8,200 – a massive 87% drop in a matter of seconds.
BTC/USD on Binance US
BTC/USD on Binance US
  • Overall, the entire market retraced in a matter of minutes. Ethereum was closing down on its own ATH at $4,400 before losing more than $200.
  • Somewhat expectedly, the enhanced volatility in a short period of time caused pain for overleveraged traders. Data from Bybt shows that the liquidations have jumped to $500 million on a 24-hour scale.
  • The largest single BTC liquidation order occurred on Bitmex and was worth $10 million.

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VeChain Price Analysis: VET swiftly moves above the previous high, targets $0.135 next?

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  • VeChain price analysis is bullish today.
  • VET/USD saw further advance today.
  • Closest resistance at $0.135.

VeChain price analysis is bullish today as more upside was seen over the past hours after a slight pause overnight for the rally that started yesterday. Therefore, we expect VET/USD to continue higher and reach the $0.135 mark next.

VeChain Price Analysis: VET swiftly moves above the previous high, targets $0.135 next? 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded in the green over the past 24 hours, with Bitcoin up by 3.36 percent. Ethereum saw an even better result, with a gain of 11.82 percent, while Solana (SOL) is the top performer, with a 21 percent increase.

VeChain price movement in the last 24 hours: VeChain breaks above the previous high at $0.128
VET/USD traded in a range of $0.1164 – $0.1321, indicating strong volatility over the last 24 hours. Trading volume has increased by 94.63 percent and totals $640.6 million, while the total market cap trades around $8.46 billion, ranking the coin in 23rd place overall.

VET/USD 4-hour chart: VEt targets $0.135 next?
On the 4-hour chart, we can see the VeChain price action still pushing higher, likely leading to a test of $0.135 resistance later today.

VeChain Price Analysis: VET spikes above the previous high, targets $0.135 next?
VET/USD 4-hour chart. Source: TradingView
VeChain price action has slowly moved higher over the past weeks as bearish pressure frequently has returned, preventing clear higher highs set. After an initial rally on the 1st of October, VET/USD reached $0.115.

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From there, a week-long consolidation was seen around $0.11 until a quick spike higher to $0.123 was followed by a sharp retracement of more than 15 percent to the $0.103 mark.

Early last week, VeChain price rallied back to the $0.123 high, with further slight higher highs set over the week. Over the weekend, VET/USD retraced and set a higher low, around $0.115.

Consolidation followed until a rapid push higher began yesterday, resulting in a move towards $0.128. After a slight pause overnight, more upside followed today, quickly pushing VET to a new higher high above $0.128.

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VeChain Price Analysis: Conclusion
VeChain price analysis is bullish today as a strong advance over the last 24 hours pushed VET above $0.128 previous high without much hesitation. Therefore, we expect VET/USD to test the $0.135 next resistance later today.

While waiting for Fantom to move further, read our guides on LTC wallets, Gero wallets, and DeFi wallets.

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Polkadot (DOT) Price Ready To Ignite, Aims 67% Upswing By End Of October 2021

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The crypto space is slowly on the verge to become the fastest growing and flourishing space as the market cap is heading towards $3 trillion at lighting speed. Bitcoin price and Ethereum price are heading towards their respective highs yet again gearing up other altcoins. And hence Polkadot (DOT) price following the trend may also gear up substantially. 

The price since the start of October 2021, maintained a considerable uptrend within a pattern. The asset was maintaining a silent trend with small dumps yet considerable large pumps until huge liquidity propelled the price from $34 to $42 a couple of days before. Since then DOT price repeated the same pattern in order to march towards its ATH.

polkadotchart
Source: Tradingview

As mentioned before, the price repeatedly formed a bull flag a couple of times and successfully ranged high. The asset has formed a similar pattern yet another time and could range above $50 with a successful breakout. Interestingly, the asset discovered a new support zone around $40 and bounced each time it visited these zones. 

However, the Polkadot price is on the verge to form yet another bull flag pattern for the third time in a row. And a breakout from these levels may lead the DOT price to trade within the discovery phase soon. 

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