13.5 C
New York
Sunday, May 2, 2021
More

    Polkadot Price Analysis: DOT Stabilizes Above $ 40

    Polkadot has stabilized above the $ 40 mark in the past few days after slipping below $ 37 last week

    Polkadot has lost its place as the sixth largest cryptocurrency to Cardano in the past few days, but it still remains in the top 10.

    CT Forcast: Crypto Price Analysis

    Do you know Bitcoin Price May Fall Ahead Of Chinese New Year says analyst yes, its true but this technical indicator can give you laser sharp entry points to invest money in cryptocurrency consistently.

    The DOT / USD currency pair slid below $ 37 on April 7, but has recovered, trading above $ 40 for the past few days. The DOT rate has increased 1% in the past 24 hours. Should the trend continue, DOT could soon target its monthly high of $ 46.71.

    DOT price forecast

    Indicators on the DOT / USD 4-hour chart suggest a bullish breakout. The pair is currently trading above its 100-day SMA ($ 39.059) after the DOT / USD gained strong support at the $ 40 level over the weekend.

    An RSI in the neutral zone (51.3) and a slightly bullish MACD suggest that the market could move in either direction. The DOT / USD currency pair has risen by more than 1% in the past 24 hours and is slowly making up for its weekly loss.

    If the positive trend continues, DOT could soon crack the next resistance at $ 42.92. If so, DOT could recapture its monthly high of $ 46.71.

    However, should the bears regain control of the market, they could push the price below the 200-day SMA ($ 37.39). If it continues to decline, DOT could trade at $ 33.25. The DOT price has not been that low since last month.

    Also Read:

    The DOT rate remains stable above the $ 40 mark, despite Tether announcing the launch of a new version of the USDT token on the Polkadot blockchain last week. This was great news for the polkadot community. With a market capitalization of over $ 44 billion, Tether is the largest stablecoin issuer in the crypto space.

    Latest Posts

    spot_imgspot_img

    Don't Miss

    Stay in touch

    To be updated with all the latest news, offers and special announcements.