- Polkadot performed a positive momentum on Thursday’s trading session
- Polkadot coin price is $16.41, which is up by 1.35% in last 24 hour time-frame and 2.55% down from the previous week
- DOT/BTC pair is positive with a gain of 3.33% in Thursday’s trading session (0.00052614)
Polkadot had positive momentum on the weekly chart, and it went up to $19.32 on January 16, 2021, while breaking above the resistance zones created in the past. DOT price set a mark of all-time high with help of overall market conditions. Meanwhile the trading volume $3,183,665,347.92 in the last 24 hour time-frame represents an increasing value of 22.34%. The DOT/ETH pair is in uptrend with a value of (0.012795) which is up by 3.38% in Thursday’s trading session.
Polkadot Technical Chart Indicates a Positive Momentum
The technical chart of Polkadot highlights a positive trend. While Polkadot coin price is at $16.41. According to pivot points, the key support levels for DOT are placed at $15.12 followed by $14.62. If it moves up, the key resistance levels to watch are $16.69 and $17.20. While Diving into the weekly chart of 15-minute time frame, it forms a dark cloud cover candlestick pattern, indicating the bears have overwhelmed the bulls and are now in control.
If we look at 20 & 50 days, the exponential moving average (EMA), 20 EMA (blue line) is at $16.22, and 50 EMA (purple line) is at $16.70. The price is between both the EMA and can expect a bearish trend in the coin for the upcoming trading sessions if it plunges below the 20 EMA.
Volume indicator with the value (86.45K) reflects a selling volume in coin due to the overall market’s conditions. One can further expect an decrease in selling volume in the next few trading sessions.
MACD (Bullish): Bullish crossover signal line was spotted on January 28, 2021, during the trading session it indicated a buy signal in the coin. Also, it denotes the beginning of green bars on Histogram.
Meanwhile, the RSI (Neutral): with a value of 50.22 indicates a neutral signal in the coin for a short while. One can observe a flat trend in RSI it may move towards the overbought territory again if further buying increases in upcoming trading sessions.
Polkadot coin price is up by 1.35% on Thursday’s trading session. The price was in a downtrend from the past few days and now the bulls might have taken over. All technical indicators suggest a buy signal in the coin till the resistance of $16.69 and a positive breakout from it will place the next resistance at $17.20.
Support: $15.12, $14.62