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Polkadot price still below resistance at $43.29; A breakthrough on the way?

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The daily chart today shows that the Polkadot price is below resistance at $43.29. The price movement hasn’t been able to break above this resistance despite Bitcoin nearing its all-time high after the approval of BITO ETF.

Polkadot reached the highest price of $41.96 today as bulls are hesitant and the lowest price witnessed was $41.08.

According to the data from CoinMarketCap, the token’s trading volume dropped by 2.14% in the past 24-hours and is currently at $1.3 billion. Additionally, the token’s market cap was up by 1.29%, at $30.98 billion.

Polkadot price movement in recent days

Polkadot has performed quite well in the month of October, rising by more than 45%. The coin rose by nearly 11% on 1st October, followed by 8.9% on 9th October.

Similar price surges were noticed during the early second half of the month, i.e., an 18% growth on 15th October followed by 6.31% on 17th October.

Technical indicators on the 1-day chart

The technical indicators remain bullish on the whole as the token has seen huge spikes in the short term. The price action is still above the 50-day and 100-day Moving Averages, implying higher prices will soon follow.

However, after an explosion from the upper end of the Bollinger Bands, we can see that the price action remains in the upper zone, indicating that bulls are in charge of the action.

Polkadot price on the daily chart
Polkadot price on the daily chart by TradingView

The RSI indicator indicates that the buying pressure is still high as the gradient is slightly positive. This means that soon we might witness a price hike.

Although, the MACD indicator shows that the histogram has turned green as the MACD line continues to progress above the signal line. However, the distance between the two is closing in, indicating the possibilities of a bearish crossover.

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Polkadot price on the daily chart by TradingView

Conclusion

The conclusion for today’s analysis can be done on a slightly sluggish note. With the launch of the Parachain auction on the Polkadot network, investors have become bullish about DOT.

Polkadot [DOT] inches closer to ATH of $49 as network preps for Parachain auctions

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Polkadot [DOT] was undoubtedly the star of today’s market. By bagging the most daily gains, DOT was at the top of its game as the network gears up for the forthcoming parachain auction.

The crypto-verse has been home to numerous coins. The market has witnessed the arrival and departure of several assets. While some of these have made an impact in the market, a lot of them turned out to be scammy projects. Nevertheless, with regulations in place, the crypto-verse has emerged as a safe space for investors. Despite being fairly new, Polkadot [DOT] certainly caught the attention of the entire market after it made its way onto the top 10.

The entry of new coins did not disrupt Polakdot [DOT] ‘s stay in the top 10. The altcoin’s market cap was at $42.5 billion further allowing the asset a spot as the eighth-largest cryptocurrency.

Persisting the bullish notion, DOT went on bag gains worth 7.75% over the last 24-hours. At the time of writing, DOT was trading for $43.11. However, earlier today, the altcoin managed to go as high as $44.68. This further led to speculations that the asset was heading towards its all-time high of $49.69.

The Polkadot network certainly has eyes gazing all over it following the upcoming parachain auction. Recently, the network revealed that the auction was scheduled to start on 11 November 2021.

Polkadot [DOT] one-day price chart on Binance

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Polkadot [DOT] inches closer to ATH of $49 as network preps for Parachain auctions 4

The one-day price chart of DOT revealed a significant bullish notion. While in the short-term the asset could endure some heckles, the long-term chart was rather confident that DOT would be hitting its all-time high sooner or later. The MACD line had pushed past the signal line and formed a bullish crossover. This was further backed by another bullish crossover by the Klinger Oscillator.

The Relative Strength Index [RSI] indicator noted that DOT was being excessively purchased. The RSI marker was over the 70 median which suggested that the asset was in the overbought zone.

Polkadot [DOT] Sears on Thursday as Altcoins Hold Crypto Fort Strong

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Thursday saw a new movement in the cryptocurrency market after the bull lifted several price supports. After days of suffering under the red line, Bitcoin and a majority of altcoins surged on the Baird to clock decent numbers. The biggest winner in the new leap was Polkadot [DOT] after cruising to a 19 percent rise over the past 24-hours.

Polkadot’s latest gains also allowed it to climb to rank eight while its nearest competitor USD Coin slipped to rank nine. At press time, DOT was trading for $41.4 while its market cap increased to $40.87 billion. The 24 percent weekly gain further allowed the cryptocurrency’s daily volume to rise to a 7-day high of $5.64 billion.

Polkadot has been on a green tear since the announcement of the Parachain auction process. Slated to begin in November, the process will allocate multiple slots for building on the Polkadot blockchain.

This will be part of the vision to create an interconnected blockchain framework. The latest milestone comes five years after the vision of a heterogeneous multi-chain framework was first concocted.

The latest price hike witnessed large swathes of users enter the Polkadot industry, trusting the bullish market. Buying pressure touched the overbought threshold as money coming into the market shot up. Analysts predict another spike if the wave of new buyers continues to crest.

A look at the market’s numbers indicated a revival in its peripherals. Just today, the global cryptocurrency market cap jumped by more than 2 percent to settle at $2.38 trillion. At the same time, the total trading volume received a 10 percent boost.

Polkadot’s [DOT] next stop $40? Bulls say YES

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The bears were slyly trying to take over the crypto market. However, a few assets like Polkadot [DOT], Shiba Inu [SHIB] revealed that the bears had no place in their respective markets. While the entire market was painted in red, the aforementioned few assets were the only ones amassing gains.

The community hoped Bitcoin [BTC] would finally move on towards $60K. But the bear cut the asset’s journey at $54K itself. However, its market cap remained intact at $1 trillion. Terra [LUNA] and Avalanche [AVAX] noted major disruptions in their price. All the other altcoins were seen following suit.

Polkadot [DOT] was still smeared in green. Despite being relatively new to the market, DOT managed to steer towards the top. The altcoin, during the time of writing, was trading for $34.51 with a 2.43% surge over the last 24-hours. This price surge was certainly higher than that of all the other assets in the market. Additionally, the asset made gains up to 7.91% over the previous seven days.

With the overall market cap of the crypto-verse at $2.3 trillion, Polkadot was seen accounting for about $34.1 billion. This further gave the altcoin a spot as the eighth-largest cryptocurrency.

Polkadot [DOT] one-hour price chart on Binance

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Polkadot's [DOT] next stop $40? Bulls say YES 6

The short-term price chart of DOT on Binance revealed that the bulls were here to stay. The Bollinger Bands indicator was currently sitting at limited volatility, however, the bands were seen heading towards divergence. This could indicate that the fluctuations in price were going to increase. The Awesome Oscillator brought in good news by noting that price fluctuations were coming at the right time. The indicator rolled out green closing bars affirming the presence of the bull in the DOT market.

The Relative Strength Index [RSI] indicator noted major buying activity in the market. This was recognized by the RSI marker that resided over the 50 median.

Polkadot’s [DOT] 9% surge may kick-start massive rally

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After weeks of tepid movement, the global crypto market cap shot above $2 trillion. Polkadot [DOT] logged a massive run-up as well and was up by over 5% over the past week. The crypto-asset has been stuck in a consolidation phase for almost a month. The market remained highly volatile. Many investors are now speculating on a possible case of a bull run in the near term.

Over the past 24-hours, Polkadot [DOT] rose sharply by 9.03% and crossed a major hurdle. The crypto-asset was currently priced at $31.2 as it held a market cap of $30.42 billion and a 24-hour trading volume of $1.44 billion.

Polkadot [DOT] Daily Price Chart:

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Polkadot's [DOT] 9% surge may kick-start massive rally 9

Polkadot’s [DOT] price action remained constricted between the trendlines of a falling wedge for the most part of September. However, on the 1st of October, the crypto-asset saw a successful bullish breakout above the pattern formation, pointing towards an inevitable uptrend. Additionally, the increasing volume may further aid the growth trajectory.

As a result of the increased bullishness in the market, DOT managed to climb over the moving averages of 50 [Pink] and 200 [Yellow]. On the other hand, the 100 DMA [Blue] continued to hover below the price candles.

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Polkadot's [DOT] 9% surge may kick-start massive rally 10

The technicals look optimistic. The transition to green closing bars by the Awesome Oscillator [AO] depicted the formation of bullish momentum in the DOT market. The Chaikin Money Flow [CMF] also bounced back to the bullish territory indicating an increased inflow of capital in the market. The Relative Strength Index [RSI] also aligned with the positive trend after making a much-anticipated headway above the 50-median line as sell pressure took a serious hit.

Polkadot [DOT] may face significant resistance at $33.3 level. If it manages to beak above the said level, other target points of $37.4 and $41.7 may come into play. The support levels stood at $27.3, and $22.5 respectively.

Bearish bandwagon onboards Polkadot [DOT]; $30 still out of DOT’s reach?

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Recovery was still inaccessible for the crypto market. However, few assets like Polkadot [DOT], Binance Coin [BNB], and Dogecoin [DOGE] were seen making efforts towards the change in the ongoing market sentiment. All the other coins were smeared in red. With the entire market riding the bearish wave, a sense of positivity seemed obliged.

Bitcoin [BTC] was still stuck below $45K. The king coin could take a while before it reaches $50K, the market speculated. Apart from its price, the asset’s market cap was also taking a hit. The market cap of the world’s largest cryptocurrency had plummeted below $800 billion. During press time, it was at $791 billion which further impacted the overall market cap of the crypto-verse, which dropped to $1.87 trillion.

The fairly new cryptocurrency, Polkadot [DOT] was seen among the bears. The altcoin endured a massive fall and has been trying long and hard to move over the next zone. However, the constant invasion of the bear has been making it difficult for the altcoin. At the time of writing, DOT was trading for $27.92 with a 24-hour negative price change of 3.40%. Over the previous seven days, DOT experienced a loss of about 6.67%.

With regard to its market cap, DOT slipped down the crypto ladder. The altcoin’s market cap was noted at $31 billion which further aided in recognizing it as the ninth-largest coin.

Polkadot [DOT] one-hour price chart on Binance

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Bearish bandwagon onboards Polkadot [DOT]; $30 still out of DOT's reach? 12

The short-term price chart of DOT acknowledged the persistence of the bear. The Parabolic SAR indicator laid out dotted lines over the candlesticks, further alerting the presence of the bear in the Polkadot market. The Chaikin Money Flow [CMF] indicator also mirrored the aforementioned sentiment as the CMF marker resided in the bearish sector.

The Relative Strength Index [RSI] indicator announced a sellers’ market as the RSI marker remained below the 50 median.

Polkadot [DOT] continues to rage amidst a market slump

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Polkadot [DOT] was the only asset painted in green while all the other coins were submerged in red. This time the bears didn’t spare Solana [SOL]. With a whopping 8% daily drop, the altcoin was down to $187. Bitcoin [BTC] was slowly trying to make it past $45K. Ethereum [ETH] was, however, still residing with the bear.

The entire week posed beneficial to many coins. This list included Solana [SOL], Algorand [ALGO], and Filecoin [FIL]. While few of these coins retained this bullish momentum, others mirrored the ongoing slump in the market.

Polkadot [DOT] was the star of today’s market. The altcoin was still garnering gains of about 9% over the last 24-hours. At the time of writing, DOT had hit $31.43. The asset seemed to have endured a slight pullback from the bears as it had earlier hit a high of $35.67.

Despite being fairly new to the crypto-verse, the altcoin managed to witness impeccable growth. DOT surged in terms of market cap and even found a place in the top ten. But currently, the altcoin stands as the ninth largest cryptocurrency with a market cap of $31 billion. Polkadot [DOT] wasn’t too far off from being able to overtake Dogecoin [DOGE].

Polkadot [DOT] one-hour price chart on Binance

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Polkadot [DOT] continues to rage amidst a market slump 14

The one-hour price chart of DOT on Binance revealed that there were still signs of the bull. The Parabolic SAR indicator remained below the candlesticks further acting as a barricade against any potential downward breakout. This was accompanied by the Chaikin Money Flow [CMF] indicator whose marker stayed in the bullish arena over the zero median. These signs clearly indicated that the bulls were in the DOT market and would even stay there for a while.

Furthermore, the Relative Strength Index [RSI] indicator noted that DOT was headed towards the sellers’ zone. The buying activity was seen reducing in the DOT market.

Polkadot’s [DOT] upswing may be hurt despite renewed buy signal; here’s why

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Polkadot [DOT] finally broke out of the range-bound after fetching weekly gains of 38.87%. The crypto-asset surged above crucial hurdles at $26 and $29 after making a sustainable upswing to a level last seen on the 19th of May. It appeared to be slowly rising after establishing a local top as several top tokens went on a fresh rally after hitting a mild pause. The uptrend has aided DOT to breach Uniswap [UNI] and USDC to strengthen its position as the ninth-largest crypto-asset on the leaderboard.

Over the past 24-hours, Polkadot [DOT was up by 4.66% which catapulted its price to $34.18. At the time of writing, it registered a market cap of $34.13 billion and a 24-hour trading volume of $1.97 billion.

Polkadot [DOT] Daily Price Chart:

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Polkadot's [DOT] upswing may be hurt despite renewed buy signal; here's why 17

The moving averages have firmly supported the rising price. The 50 DMA [Pink] and 100 DMA [Blue] shifted below the DOT price candles in July and August. However, after the latest surge in the first week of September, the 200 DMA fell from its previous glory below the candlesticks depicting a promising turn of events. Additionally, after undergoing a bullish crossover with the 100 DMA, the above chart now hints at a so-called golden crossover with the 200 DMA [Yellow], a long-term bullish indicator.

Despite an increase in volume, DOT’s current levels are no longer near that of May, which could impede its growth in the near term.

DOT
Polkadot's [DOT] upswing may be hurt despite renewed buy signal; here's why 18

The green closing bars of Awesome Oscillator [AO] depicted a growing bullish momentum in the coin market. The MACD flashed green on its histogram. However, the daily Relative Strength Index [RSI] failed to comply with the ongoing trend after demonstrating a bearish divergence.

If the selling pressure retreats, the bears may try to invalidate the bullish narrative thus flipping the price to support levels. A downside move could potentially lead Polkadot to revisit support areas of $27.9, $22.08, and $20.2. In case of an upside break, on the other hand, the asset might target $39.6, and $47.8 respectively.

Polkadot [DOT] keeps sails up as all-time high looks closer than ever before

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As the cryptocurrency market moved green numbers on the board, some coins were faring better than their counterparts. Over the past couple of weeks, altcoins grew much more significantly than Bitcoin to set new records on the board. Polkadot [DOT], the ninth-largest cryptocurrency saw a whopping 32.5 percent growth over the past week.

On Friday, DOT was trading for $32.7 with a total market cap of $32.41 billion. A 2 percent hourly growth also lifted the trading volume to $2.5 billion. As it stands, Polkadot’s market cap was approximately $5 billion more than its neighbor USDC which held a daily volume of $3.2 billion.

Polkadot 1 hour:

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Polkadot [DOT] keeps sails up as all-time high looks closer than ever before 21

Since the start of September, Polkadot’s price has stabilized into a bullish curve with the technical indicators pointing to a price crunch soon. With the immediate support at $29.6, Polkadot surprised investors by surging even through a stagnant market.

Bollinger Bands- The upper band and the lower band converged towards another thereby reducing the possibility of a large Bollinger cloud. Polkadot’s price curve took a downturn once the rush ended.

Relative Strength Index-After Polkadot’s surge ushered in a new wave of HODLers, the RSI fell over the previous 24-hours. Investor support was necessary for the price upkeep with the line still safely near the overbought zone.

Chaikin Money Flow- For now, DOT was still bullish on the CMF scale. The hold above the zero line was a sign that the capital coming into the Polkadot market was more than the capital leaving the market.

Polkadot 1 day:

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Polkadot [DOT] keeps sails up as all-time high looks closer than ever before 22

In the long term, Polkadot was climbing towards its All-time high regions. The long-term support at $0.6 was untouched since its formation at the end of July. Although the cryptocurrency was heading towards earlier highs, it was more slow-paced and calculated this time around.

Relative Strength Index- The RSI climbed towards the overbought threshold after long-term investors pulled in new ones. If Polkadot can sustain this momentum and generate more user interest, it has the potential to climb higher on the crypto ranks.

Chaikin Money Flow- Polkadot’s CMF spiked from the zero line as new holders start building their own portfolios. The last time DOT’s outflow capital trumped the incoming capital was in the middle of July.

Bollinger bands: Polkadot’sn spike over the past few weeks triggered a massive Bollinger cloud, the effects of which had been subdued by a price pullback.

Polkadot [DOT] jumps onto the bullish bandwagon and heads towards $30

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Painted in green, all the crypto assets were seen beaming in joy. Cardano [ADA], Polkadot [DOT], XRP, and several other assets were bagging double-digit gains. The crypto-verse hoped that this trend would persist.

Bitcoin [BTC] had found its way over $45K and was seen moving on to $50K. At the time of writing, the king coin was trading for $47,055 with a 6% surge over the last 24-hours. The market cap of the altcoin was at $885 billion accounting for most of the global crypto market cap which was at $2 trillion.

Polkadot [DOT] and Cardano [ADA] were garnering the most amount of profits. At press time, Polkadot [DOT] was trading for $27.56 with a whopping 15.55% surge over the last 24-hours. The altcoin was undoubtedly one of the most promising assets this year, despite its late entry into the crypto market. Throughout the week, the altcoin managed to bag gains up to 25%.

DOT endured a blip on its path in terms of market cap. The altcoin slipped down to the eighth position as its market cap sunk to $27 billion. At least, the DOT retained itself in the top ten.

Polkadot [DOT] one-hour price chart on Binance

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Polkadot [DOT] jumps onto the bullish bandwagon and heads towards $30 25

The bulls were raging in the short-term price chart of DOT on Binance. DOT was bidding adieu to the bear as it welcomed the bull. The Parabolic SAR indicator was noted switching sides. A set of dotted lines were formed below the candlesticks, further giving the asset a much-needed push to the top. The Awesome Oscillator indicator followed suit by laying out green closing bars after a series of red bars. This indicated the presence of bulls in the DOT market.

Additionally, the MACD line was slowly trying to overtake the signal line to form a bullish crossover. However, it seemed to be taking longer than anticipated.

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Polkadot [DOT] jumps onto the bullish bandwagon and heads towards $30 26

Furthermore, the Relative Strength Index indicator noted that the altcoin was recovering from being overbought.