|Market Cap||$8.05 billion|
|Circulating Supply||1.11 billion|
|Total Supply||1.22 billion|
|Vol (24H)||$304.32 million|
Additional Read: Top Cryptos this Week
Polkadot appears to be bullish as the market sentiments are positive towards the DOT price as the price is attempting for a firm recovery. The market conditions appear to be favorable for the bulls as the price maintains a significant uptrend over the past couple of days. However, the asset may close the monthly trade on a bullish note as it clears the $7.31 resistance area.
In the coming month, the DOT price may continue experiencing equal bullish & bearish pressure, compelling the price to consolidate above $8.5. If the asset receives an extensive bullish push, the price may even rise above $9.56 to hit $10. Therefore, by the end of the monthly trade, the price may hover around $10.
The DOT price had dropped by more than 71% since the 2022 highs close to $24. Presently, the asset is carrying extensive influence of the bears but is holding the lower support at $6.86 firmly. Therefore, the upcoming trend is expected to be a coalition of a consolidated but slightly elevated trend until it reaches $10.
|Short-Term||The DOT price is slowly rising to regain the lost levels but may soon face a minor rejection|
|Mid-Term||The asset has dropped heavily and currently consolidating along the lower support, which is poised to pull a significant leg up|
|Long-Term||Polkadot is lacking the required buying pressure to rise above the current accumulation and hence may continue to consolidate|
|Indicator||Value (STF/HTF)||Action (STF/HTF)|
|Relative Strength Index(RSI)||53.57 / 38.06||Neutral / Sell|
|MACD||-0.007 / -2.69||Sell / Sell|
|Average Directional Index(ADX)||25.39 / 30.42||Buy / Neutral|
|Ultimate Oscillator||50.82 / 46.20||Neutral / Sell|
|Bull-Bear Power||0.162 / -2.38||Buy / Sell|
|Moving Average||Short Term||Long Term|
Polkadot displays the probability of a short term bounce in the short-term as most of the indicators are either slightly bullish or neutral. The RSI is hovering within the average ranges while the bulls are well in the position. However, the MACD displays the rally being still under bearish captivity.
Conversely, the asset may drop hard in the long term as most of the indicators are extremely bearish, pointing towards ‘sell’. Interestingly, the volatility is pretty less in both the time frames and hence the price movements may be slow & steadily. Regardless of the direction.
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Polkadot price is pretty bullish in a small time frame but extremely bearish in the longer time frame. Check latest Polkadot INR Price - https://coindcx.com/trade/DOTINR
The RSI presently in the short term is 52.83 in short term while in long term it is 32.97
As mentioned above, DOT price is preparing for a huge bull run and hence could be good time to buy