Polkadot (DOT) Grinds 15% Higher Amid Sustained Buying

News BTC

There’s no stopping Polkadot (DOT) price as it continues to locomote up. It’s the second consecutive day of winning streak for Polkadot as it spiked by 15% in gains.  

According to CoinMarketCap, Polkadot (DOT) price is currently up by 5.92% or at $8.02. It currently has a total market cap of 7,916,976,700 as of this writing.

How To Get Free Crypto  

DOT price has experienced sustained and robust buying pressure after touching on lows on Tuesday at $6.52. The coin has successfully bounced back from the $6.50 support line.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Can DOT Spike To $8.50?

The coin has recovered steadily as seen in the past two sessions and has also generated heightened massive investor interest and price hike. A breach above the $8.00 level would reinforce gains for DOT.

Looking at the daily chart, DOT price has been experiencing resistance close to the sloping line that stretches from $9.5.But, the downside is seen close to the $6.25 zone. Breaking through the resistance level of $8.05 requires strong buying pressure.

Polkadot price is looking extremely volatile and continues to be unpredictable in terms of price movement. Meanwhile, the bulls are trying to jab the price pushing it further the descending trend line.

Coinbase Banner  
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Get 110 USDT Futures Bonus for FREE!

As DOT/USD nears the 50-day EMA or Exponential Moving Average, the price could potentially shoot for $8.50.  Additionally, RSI has also traversed the average line and could jump higher. RSI is currently at 56.

With the hourly time frame, DOT price hints more gains or higher than 15% from yesterday’s $6.73. After retesting at $7.93, DOT price has retraced and swerved way up with the current session’s high. This implies that buying pressure is close to the lower zone.

Bulls In Command, Conquer Mode

The histogram bars seem to plunge with the MACD indicator revealing a downward bullish trend. RSI is showing positive or is neutral and neither bearish nor bullish.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

DOT is definitely looking optimistic when perceived on a higher time frame. However, on the lower time frame, it still shows negative in perspective. So, it would be wise to hold your horses and await validation before pushing through more aggressive bids.

FreeBitcoin Banner  

DOT price shows that the bulls have been manning its price since September this year. The market has witnessed slopes or combinations of higher highs and higher lows, which implies that the bulls have the upper hand too on DOT price. DOT prices were previously seen to be merging in the $6.42 and $7.2 range.

DOT’s RSI is above 50 which strongly indicate that the coin is bullish. On the other hand, if Polkadot prices plunge to $6.61 and under, this would hint that the bears were able to take over the market.

It seems the bulls are in command and conquer position. Polkadot is set to continue with its bullish momentum as triggered by an overall positive market sentiment.

DOT total market cap at $7.8 billion on the daily chart | Source: TradingView.com

Featured image from VOI.id, chart from TradingView.com

Go to Source
Author: Jet Encila


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.