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Will bulls be able to break through $32 resistance?

The Polkadot price analysis for today is overwhelmingly positive. From the start of the day, the dot bulls took the lead and effectively moved the price level from $27 to $30. After three days of price declines, DOT has risen again and is currently trading at $35 at the time of writing.

Polkadot has dropped almost 3.5 percent in the previous 24 hours but has gained 20 percent in the last week. The whole market is optimistic today, with Bitcoin, the market leader, increasing by 1.6 percent. The majority of the leading cryptocurrencies, including Ethereum, are on a positive trend.

Will DOT break above $32 in a one-day price chart?

The price of Polkadot has risen today, according to the 1-day Polkadot price analysis. Due to selling pressure from traders, the DOT price has been steadily declining, but bulls have acquired enough power to push the price upward today.

Polkadot price analysis: Dot eyes resistance of $32, will bulls push through? 1
DOT/USD 1-day price chart. Source: Trading view

With the top band at $38.7 and the lower band at $26.4, the volatility is very strong but progressively reducing as Bolling bands shrink, albeit gradually. Bollinger bands have an average value of $32.5. The relative strength index (RSI) is at 59 but rising, and the moving average is at $34.

Polkadot price forecast: DOT will maintain a rising trend

Bulls have made a strong return today, according to the 4-hour Polkadot price analysis, and the price is increasing as DOT bulls secure green candlesticks on the charts. Dot is quickly rebounding from yesterday’s loss, with bulls preparing to raise the bar.

Volatility is modest, although significantly higher than it has been in recent hours. The Bollinger bands now display the following readings: the upper band is at $37.7, while the lower band is at $33.

The average of Bollinger bands is at $35.4, slightly above the price level but on a downward slope, and a bullish crossing will occur if it travels below the price level. The moving average is at $34.6, slightly below the price level, confirming the positive trend. The relative strength index (RSI) is now at 51, although it is steadily rising.

Polkadot price analysis: Dot eyes resistance of $32, will bulls push through? 2
DOTUSD 4-hours price chart. Source: tradingview

Polkadot price analysis technical indicators also support buyers, with all-important moving averages (MA) bullish. All three MAs (MA10), (20), and (30) are giving a buy signal. In addition, the exponential moving averages EMA10, 20, and 30 are all pointing toward a purchase signal.

The oscillators are largely neutral, with the top one being RSI, which is also neutral, but MACD is giving a sell signal due to the recent negative trend. With a score of 0.7, the power balance is marginally in favor of the bulls.

Conclusion

DOT/USD will stay positive over the next 24 hours, according to daily and hourly Polkadot price research, as bulls gain strength and recoup from previous days’ losses.

According to the hourly RSI indicator movement, which shows a major region for a bullish move, there are good prospects for price recovery, and we may predict a further increase in price in the next hours.

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