- Polkadot performed a positive momentum on Thursday’s trading session
- Polkadot price is $20.92, which is up by 19.56% in the last 24-hour time-frame and 29.53% up from the previous week
- DOT/BTC pair is positive with a loss of 2.10% in Thursday’s trading session (0.00054151)
Polkadot had positive momentum on the weekly chart, and it went up to $21.56 on February 04, 2021, while breaking above the resistance zones created in the past. DOT price set a mark of an all-time high 4-hours ago. Meanwhile, the trading volume of $6,210,048,816 in the last 24-hour time-frame represents an increase in the value of 143.62%. The DOT/ETH pair is neutral with a value of (0.012442) which is down by 0.23% in Thursday’s trading session.
Polkadot Technical Chart Indicates a Positive Momentum
The technical chart of Polkadot highlights a positive trend. In contrast, Polkadot price is at $21.56. According to pivot points, the critical support level for DOT is placed at $9.60. Whereas if it moves up, the key resistance levels to watch are $21.83 and $26.45. While diving into the weekly chart of 15-minute time-frame, it completes an engulfing bearish candlestick pattern, indicating the bears have overwhelmed the bulls and are now in control.
Investors can observe a rising channel pattern on the technical chart, Polkadot price has tested the resistance and the upper layer of the pattern and failed to break above the pattern. Now it may fall till the lower layer of the pattern at $16.
Volume indicator with the value (344.096K) reflects a moderate selling volume in coin. Investors can further expect an increase in selling volume in the upcoming trading sessions.
SMA-200, price is at $14.10, which acts as another strong support in the coin. The price is above the SMA, and investors can expect a bullish trend in the coin.
MACD indicator (Bullish), no bearish crossover signal line spotted on February 04, 2021, indicated a buy signal in the coin during the trading session. Also, it denotes the green bars on Histogram.
Meanwhile, the RSI indicator (Bullish) with a value of 70.75 indicates a buy signal in the coin. One can observe a decrease in value in upcoming trading sessions.
Polkadot price is up by 19.56% on Thursday’s trading session. The price is above the SMA of $14.10 and travelling inside a rising channel pattern, investors may expect the price move towards the lower layer of $16. All technical indicators suggest a buy signal in the coin, but the price will follow the channel pattern.
Resistance: $21.83, $26.45