Crypto News – With a gain of almost 0.25% in the past day and a current price of $5.46, the native cryptocurrency of the Polkadot ecosystem, DOT, is seeing significant movements.
DOT Price Rises to $5.5 During the Day
Since hitting its low of $3.50, the price of DOT has significantly increased by more than 55%. However, the trend is now reversing. Further evidence of purchasers’ considerable efforts as they go for the $6.00 mark comes from the price activity. With predictions of hitting the swing high point of $7.00 in the next sessions, technical indications indicate that the DOT price has sustained its gains in the neutral area.
On the other hand, the price of DOT shows strength, trading above important moving averages. Moreover, the way the market is moving right now is in favor of bulls, suggesting that DOT may break above $7.00 and rise sharply over the course of the next several sessions.
What Does DOT Price Movement Say?
With its 24-hour trading volumes down 32.58% to $178 million as of the time of publication, DOT is trading at $5.46. Investor curiosity and dedication to sustaining an optimistic attitude are also reflected in the observed price action. At the moment, the price of DOT is trading extremely near the $5.73 rejection barrier.
A bullish divergence that indicates a possible near-term move to the blue sky zone, or about $7.00, was formed by the RSI curve staying in the overbought zone. Red bars on the histogram and a bearish crossover in the MACD indicator, on the other hand, suggest that the next few sessions could be tumultuous.
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