Polkadot price has retraced on its chart over the last 24 hours. The coin has started to register sideways movement on its one-day chart. During this period, the coin lost close to 2% of its market value.<\/p>\n
In the last week, DOT registered more than 6% appreciation, which caused the bulls to gain stamina and break past the consolidation phase.<\/p>\n
The technical outlook for the coin remained positive; however, the indicators indicated that the bullish momentum was fading off the charts.<\/p>\n
Bitcoin also retraced slightly on its chart. Many altcoins have also started to trade sideways following BTC\u2019s price action.<\/p>\n
Bulls for Polkadot price can make a comeback if the coin manages to push above the $6.70 price mark. Consistent lateral trading can cause the altcoin to dip further on its chart.<\/p>\n
It is important that Polkadot price remains above its local support level of $6.30. If the coin loses that support line, then there could be a further downfall.<\/p>\n
The broader market continues to show mixed trading signals, with some coins losing strength while the likes of Dogecoin and Shiba Inu gain further bullish momentum.<\/p>\n
Polkadot was priced at $6.36 on the one-day chart | Source: DOTUSD on TradingView<\/a><\/p>\n DOT was trading at $6.36 at the time of writing.<\/p>\n The altcoin had witnessed weeks of price consolidation until Bitcoin finally registered bullish price action.<\/p>\n Even though Polkadot\u2019s bulls pushed hard to break past the $6 price mark, the coin has seemed to lose its bullish strength.<\/p>\n Immediate resistance for Polkadot stands at $6.70. Moving above that level can help DOT to trade closer to the $7 price mark.<\/p>\n That level can help the coin claim the bulls back again.<\/p>\n The closest support line that Polkadot has to defend is at $6.30. Losing this line will drag the price of the altcoin to $5.80. The amount of Polkadot traded in the last session fell slightly, indicating that selling pressure increased.<\/p>\n Polkadot registered a fall in buying strength on the one-day chart | Source: DOTUSD on TradingView<\/a><\/p>\n The altcoin swiftly moved into the positive buying zone as soon as it gained its value. However, at press time, it registered a downtick in buying pressure.<\/p>\n The Relative Strength Index was above the half-line but it displayed a downward movement, indicating a fall in buyers and demand for the altcoin.<\/p>\n Polkadot price was also moving below the 20-SMA line, indicating that demand was declining and that sellers were driving price momentum.<\/p>\n Polkadot displayed a fall in capital inflows on the one-day chart | Source: DOTUSD on TradingView<\/a><\/p>\n Other technical indicators also indicated that the bulls were slowly fading out of the market. The Awesome Oscillator depicts the price momentum, it formed green histograms under the half-line.<\/p>\n This formation meant that the coin was about to witness a further fall in price.<\/p>\n The Chaikin Money Flow accounts for the capital inflows and outflows of the asset.<\/p>\n The indicator was on the half-line with a downtick, signifying that capital inflows declined over the last 24 hours.<\/p>\n Featured image from FinanceFeeds, chart from TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Polkadot price has retraced on its chart over the last 24 hours. The coin has started to register sideways movement on its one-day chart. During this period, the coin lost close to 2% of its market value.<\/p>\n In the last week, DOT registered more than 6% appreciation, which caused the bulls to gain stamina and break past the consolidation phase.<\/p>\n The technical outlook for the coin remained positive; however, the indicators indicated that the bullish momentum was fading off the charts.<\/p>\n Bitcoin also retraced slightly on its chart. Many altcoins have also started to trade sideways following BTC\u2019s price action.<\/p>\n Bulls for Polkadot price can make a comeback if the coin manages to push above the $6.70 price mark. Consistent lateral trading can cause the altcoin to dip further on its chart.<\/p>\n It is important that Polkadot price remains above its local support level of $6.30. If the coin loses that support line, then there could be a further downfall.<\/p>\n The broader market continues to show mixed trading signals, with some coins losing strength while the likes of Dogecoin and Shiba Inu gain further bullish momentum.<\/p>\n Polkadot was priced at $6.36 on the one-day chart | Source: DOTUSD on TradingView<\/a><\/p>\n DOT was trading at $6.36 at the time of writing.<\/p>\n The altcoin had witnessed weeks of price consolidation until Bitcoin finally registered bullish price action.<\/p>\n Even though Polkadot\u2019s bulls pushed hard to break past the $6 price mark, the coin has seemed to lose its bullish strength.<\/p>\n Immediate resistance for Polkadot stands at $6.70. Moving above that level can help DOT to trade closer to the $7 price mark.<\/p>\n That level can help the coin claim the bulls back again.<\/p>\n The closest support line that Polkadot has to defend is at $6.30. Losing this line will drag the price of the altcoin to $5.80. The amount of Polkadot traded in the last session fell slightly, indicating that selling pressure increased.<\/p>\n Polkadot registered a fall in buying strength on the one-day chart | Source: DOTUSD on TradingView<\/a><\/p>\n The altcoin swiftly moved into the positive buying zone as soon as it gained its value. However, at press time, it registered a downtick in buying pressure.<\/p>\n The Relative Strength Index was above the half-line but it displayed a downward movement, indicating a fall in buyers and demand for the altcoin.<\/p>\n Polkadot price was also moving below the 20-SMA line, indicating that demand was declining and that sellers were driving price momentum.<\/p>\n Polkadot displayed a fall in capital inflows on the one-day chart | Source: DOTUSD on TradingView<\/a><\/p>\n Other technical indicators also indicated that the bulls were slowly fading out of the market. The Awesome Oscillator depicts the price momentum, it formed green histograms under the half-line.<\/p>\n This formation meant that the coin was about to witness a further fall in price.<\/p>\n The Chaikin Money Flow accounts for the capital inflows and outflows of the asset.<\/p>\n The indicator was on the half-line with a downtick, signifying that capital inflows declined over the last 24 hours.<\/p>\nTechnical Analysis<\/h2>\n
Polkadot Price Analysis: One-Day Chart<\/h2>\n
Technical Analysis<\/h2>\n