Polkadot Worth Evaluation: DOT Tasks For Optimistic Bouneback

  • Polkadot showed a positive dynamic on Saturday
  • The Polkadot coin price is $ 16.49, up 2.03% over the past 24 hours and down 8.91% from the previous week
  • The DOT / BTC pair is negative with a loss of 1.69% in Saturday’s trading session (0.00048233).

Source: Coinmarketcap

Polkadot had positive momentum on the weekly chart, rising to $ 19.32 on January 16, 2021 as it broke above resistance levels created in the past. The DOT price hit an all-time high with the help of general market conditions. The trading volume of USD 3,285,192,701.45 in the last 24 hours corresponds to an increasing value of 7.01%. The DOT / ETH pair is in an uptrend with a value of (0.012260) up 1.00% in Saturday’s trading session.

Polkadot Technical Chart shows a positive trend

Source: TradingView

Polkadot’s technical chart shows a positive trend. While Polkadot coin price is at $ 16.49. According to the pivots, the key levels of support for DOT are at $ 16.18, followed by $ 15.78. When it goes up, the main resistance levels to watch are $ 17.54 and $ 17.96. When dipped into the weekly chart with a 15 minute timeframe, it forms a candlestick pattern with dark cloud cover, indicating that the bears have overpowered the bulls and are now in control.

The volume indicator with the value (27,396,000) reflects a purchase volume in coins due to the general market conditions. Investors can expect a further increase in purchase volume in the next trading sessions.

MACD (Bearish): A bearish crossover signal line was spotted on January 30th, 2021, which briefly indicated a sell signal in the coin during the trading session. It also marks the end of the green bars in the histogram.

Meanwhile it is RSI (Bearish): with a value of 44.22 indicates a sell-signal in the coin for a short time. It could move towards bullish territory if the buy continues to increase in the upcoming trading sessions.

Conclusion

The polkadot coin price rose 2.03% on Saturday. The price tested the support level of $ 16.18 and had a pullback. Investors can see price move towards the $ 17.54 resistance level and if it stays above the price level it can hit $ 17.96. All technical indicators point to a sell signal in the coin for a short time and can soon form a buy signal.

Resistance: $ 17.54, $ 17.96

Support: $ 16.18, $ 15.78

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