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Polkadot price analysis: DOT target earlier return to $5.5 after recent decline

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TL;DR Breakdown

. Polkadot price back up to $5.37
. DOT targets $5.5 resistance at current trend
. Technical indicators suggest for price uptrend

Polkadot price analysis shows price recording a minor uptrend from yesterday’s price level to reach as high as $5.37. DOT has been on the up over the past few days, since dropping down to $5.16 at the start of June. Polkadot price has swerved over the past month around the close range of $5.4-5.5, and has now placed that region as the next resistance point. The token last breached the $5.5 mark on May 29, before suffering a 12 percent decline to drop as low as $5.1 since then. DOT technical indicators seem to be on the up, with trading volume increasing more than 24 percent, and market capitalisation inclining up to $7,064,151,329.

The larger cryptocurrency market showed a slight uptrend from yesterday’s price across the board, with Bitcoin rising up to $27,300, and Ethereum moving up to $1,900. Among leading Altcoins, Ripple rose 4 percent to $0.54, with Cardano making a 2 percent jump to $0.38. Meanwhile, Dogecoin price remains at $0.07, with Solana rising 5 percent to $22.18.

Polkadot price analysis: RSI shows incremental market valuation on daily chart

On the 24-hour candlestick chart for Polkadot price analysis, price can be seen largely trending sideways over the past 2 months, with the highest point recorded at $6.8 on April 19. Having incurred a turbulent time since the turn of the month, DOT price looks to be back on the up after reaching up to $5.38. Price has moved past the 9 and 21-day moving averages, as well as the crucial 50-day exponential moving average (EMA) at $5.36.

DOTUSDT 2023 06 04 23 20 39Polkadot price analysis: DOT target earlier return to .5 after recent decline
Polkadot price analysis: 24-hour chart. Source: Trading View

The 24-hour relative strength index (RSI) shows incremental market valuation for DOT at the 47.22 mark, after initially falling down to 40.02 on June 1. Meanwhile, the moving average convergence divergence (MACD) curve shows a bullish divergence in place with the trend line keeping above the signal line at current price for Polkadot price analysis.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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