- Polkadot Price is currently on a bearish move with a loss of 0.62% in an intraday session.
- Technical Indicators for DOT price suggests a consolidated move. In contrast, the DOT/BTC pair is also seeing a bearish momentum.
Polkadot is one of the most extensive multi-chain protocols with a market capitalization of $$38,567,382,850. DOT price has seen an ROI of 1090% since its inception. It is currently trading at $36.02 with an intraday gain of 0.25%. DOT/BTC pair is also on a consolidated move and can see a breakout of support in the future .
The coin volume($1,790,388,508) has seen a decrease of 24%.The volume to market capitalization ratio for DOT is 0.05, and if it crosses above 0.75, then a huge buying rush can be seen.
Technical Indicators Suggest A Consolidated Momentum For DOT Price
The weekly technical chart of Polkadot highlights a bullish move. DOT price is moving in a consolidated rally in the daily time frame. Resistance on the upside for the coin can be seen at $43. Polkadot can bounce back while going down from $30.It is trading below 50 and above 100 Moving Average. The 50MA (RED) line is at $37.63, making it temporary resistance for the current price. On the daily time frame , the coin has formed a rising parallel channel pattern . If the price makes a jump above $38, it can rise to $50. DOT/BTC pair can also see a new highs being formed.
RSI(Bearish): It is trailing at 49.02, showcasing its presence in the neutral zone. There is a negative slope formation in the RSI, highlighting a negative sentiment for the price. RSI depicts a bearish momentum for price.
DOT price has seen a gain of more than 300% from the start of the year.The recent downfall of DOT price can see a reversal in upcoming days.Investors should do their due diligence before investing.