Crypto Technical Analysis

Polkadot(DOT)/USDT Technical Analysis: 27 December 2021

Polkadot Technical Analysis

DOT prices, like many other altcoins, had a remarkable journey since the beginning of 2021. With a jump in the trading volume since the past couple of days, Polkadot price manifests its tendency to form a new ATH at the earliest. However, in doing so the asset is required to surpass some barriers.

 

But will the barrier drag the DOT price? If yes, what levels it may revisit? Let’s check it out.

 

Polkadot(DOT)/USDT Technical Analysis at a Glance

 

DOT crypto price was expected to have a thriving December trade by achieving levels above the ATH. Yet the jumbled market sentiments restrained the asset and compelled the price to slash 43% below its highs. The asset appears to be highly confident of a notable bull run since the beginning of 2022 and currently, it is buckling up to record a notable bullish close for the year. 

However, in the meantime, the asset may also encounter a huge bearish trap, which needs to be nullified well in time. Else it would be pretty difficult for the price to sustain the trembled situation. Luckily, the Polkadot community seems to be well aware of the upcoming hindrance and hence are doing their best to ease the chaotic situation that may be encountered soon. 

Short Term The price appears to reach the upper bands and hence a short term pullback expected
Mid-Term A trend reversal from bullish to bearish is possible
Long-Term The price is following a serious uptrend and hence it may reach new highs amid the next bull run

Polkadot Technical Indicators

Technical Indicators

Indicators 1Hr/1D Action (1Hr/1D)
Relative Strength Index(RSI) 61.02/54.62 Buy/Neutral
StocasticI(StochRSI) 0.00/100 Sell/Overbought
MACD 0.590/-1.5 Buy/Sell
Historical Volatility Percentile(HVP) 22.92/87.09 Sell/Neutral

Pivotal Points

Pivotal Points 1Hr/1D
Moving Average(MA)-50 29.0 / 34.7
Moving Average(MA)-200 28.1 / 32.6
FIB Extension Support 1 31.05 / 29.1
FIB Extension Resistance 1 31.22 / 31.7

Summary:

The DOT price in the short-term appears to be pretty bullish as most of the indicators point out towards a buy. However, the asset is showcasing less volatility while RSI is slowly ranging towards the overbought levels. On the contrary, MACD manifest mounted buying pressure, and hence DOT price may face an interim pullback somewhere in the first week of January. However, in the long term, the Polkadot price remains a little uncertain as many indicators remain neutral. 

Polkadot(DOT) Technical Analysis for the Week

The weak trend was pretty consolidating as the trend was swinging within a very narrow range throughout the week. The DOT price received a huge influx of volume in the past weekend that uplifted the price above $30.Currently, the asset is gaining strength by trying to avoid huge price variations in order to hit $50 at the earliest.

Source: Tradingview Date: 27-12-2021 Time: 12:22pm

  • DOT price reversed the declining trend since the beginning of the current trading month and since then followed a notable upward trajectory
  • After registering huge green candles, the asset currently appears to have remained calm since the early trading hours and hence the volume is also pretty low
  • A huge bearish scenario is about to happen in the first week of January 2022, as Polkadot price may encounter a ‘Death Cross’
  • The 50-day MA is about to cross the 200-day MA and move towards the south, pointing towards a Death cross event. And hence if this occurs, a significant amount of gains is expected to shed off
  • Yet the long-term forecast remains pretty bullish and hence a notable recovery may also follow the plunge. 

Polkadot(DOT)/USDT Price Analysis for Today: 27 December 2021

Polkadot’s price has maintained a notable uptrend for many days. The asset withstood the huge pullback in recent times and currently working on its recovery. No doubt the DOT price encountered a couple of pullbacks, but the price did not manifest any bullish scenario. And hence the asset appears primed to surge overcoming the downtrend awaiting ahead. 

Currently, the Polkadot price at the press time is $31.22 with a huge jump of 9.22% compared to the previous 24-hour trade. The trading volume currently is above $1 billion with a gigantic jump of more than 93% and the market cap also is up by 10% Therefore the asset is expected to continue swelling all through the present-day trade.

Where & How to buy Polkadot(DOT) 

Polkadot price had a not so kick-starting beginning of trade, yet possessed extremely strong fundamentals. And hence this may be the reason, most of the exchanges listed the token quickly. However, if you want to invest in Polkadot, then CoinDCX is the best option as it is very simple and safe. 

The combination of attractive features with affordable rates is what CoinDCX offers. To start with, just download the CoinDCX mobile App and register following a few simple steps.


Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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