1. BITBILIHome
  2. Article

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

• 192 views

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.

文章来源于互联网:Polkadot price analysis: DOT target earlier return to $5.5 after recent decline

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年6月9日 14:35
Next 2023年6月9日 17:32

Related articles

  • Turkish investors turn to stablecoins amid Lira’s depreciation

    TL;DR Breakdown Turkish investors are flocking to stablecoins like Tether as the lira’s value plunges. Lira transactions accounted for 10% of crypto trading volumes, up from 4% at the start of the year. Stablecoins offer a way to protect their wealth amid high inflation and difficulties in buying dollars or gold. The Turkish lira’s ongoing decline against the U.S. dollar has prompted a surge in local demand for stablecoins, particularly Tether (USDT), as investors seek refuge from the country’s economic uncertainties. Despite the global crackdown on cryptocurrencies and falling prices for major tokens, stablecoins have become an attractive option in Turkey, where the lira has suffered significant losses. According to data from Kaiko, lira transactions accounted for 10% of total cryptocurrency trading volumes in early June, peaking at 18% in May. This represents a notable increase from the 4% recorded at the beginning of 2023. Stablecoins, designed to maintain a consistent peg with the U.S. dollar, have gained popularity as they offer a potential safeguard against the lira’s depreciation. Ebru Güven, an Istanbul-based university lecturer and former banker, highlighted the…

    Article 2023年6月15日

  • How this crypto turmoil showcases its true potential

    TL;DR Breakdown The crypto industry has faced significant challenges, notably the FTX collapse and regulatory scrutiny on major players like Binance and Coinbase. Despite these setbacks, blockchain technology, especially tokenisation, is still showing promise in the finance sector. AI advancements in finance could complement, not compete with, blockchain’s security strengths. Description Cryptocurrency is an industry that’s had its ups and downs, particularly recently. But rather than write it off entirely, we need to examine how these challenges only underscore the genuine potential of the technology. Crypto Faces a Watershed Moment The crypto landscape has seen better days. A domino effect of setbacks started with the collapse … Read more Cryptocurrency is an industry that’s had its ups and downs, particularly recently. But rather than write it off entirely, we need to examine how these challenges only underscore the genuine potential of the technology. Crypto Faces a Watershed Moment The crypto landscape has seen better days. A domino effect of setbacks started with the collapse of FTX in November 2022, highlighting a challenging year riddled with declining prices and scandalous events…

    Article 2023年9月19日

  • U.S. debt ceiling suspension spurs upward trend in global market

    TL;DR Breakdown The U.S. agreement to suspend its debt ceiling until 2025 sparked a rise in Asian shares and U.S. stock futures, with particularly notable gains in S&P 500 and Nasdaq futures, as well as Tokyo’s Nikkei index. The suspension announcement also rallied the cryptocurrency market, with leading crypto tokens Bitcoin and Ethereum registering gains above 3% each, pushing Bitcoin back above the $ 28,000 mark. The agreement to suspend the U.S. government’s debt ceiling has sent ripples across the global market. Asian shares and U.S. stock futures saw a positive jolt on Monday in light of the deal struck between U.S. President Joe Biden and House Speaker Kevin McCarthy over the weekend. The crucial agreement ends a lengthy deadlock and averts a potentially damaging economic default. The suspension of the $31.4 trillion debt ceiling until 2025 has immediately impacted the stock market. It is essential to know that S&P 500 futures experienced a 0.2% boost in Asia, while Nasdaq futures hardened by 0.4%. Concurrently, MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) amplified by 0.3% after falling by…

    Article 2023年6月1日

  • Circle Introduces New Protocol to Enhance USDC Transactions on a Prominent Blockchain

    TL;DR Breakdown Circle introduces CCTP, a protocol enabling seamless movement of USDC stablecoin across different blockchains. CCTP enhances capital efficiency and accessibility for traders, addressing the challenge of capital fragmentation. Description Circle, the blockchain startup and stablecoin issuer, has unveiled its Cross Chain Transfer Protocol (CCTP) on the Arbitrum network. The launch of CCTP aims to enhance the accessibility and movement of the USDC stablecoin on the Ethereum Layer-2 scaling network. With the CCTP, Circle seeks to overcome the challenges of capital fragmentation and provide a … Read more Circle, the blockchain startup and stablecoin issuer, has unveiled its Cross Chain Transfer Protocol (CCTP) on the Arbitrum network. The launch of CCTP aims to enhance the accessibility and movement of the USDC stablecoin on the Ethereum Layer-2 scaling network. With the CCTP, Circle seeks to overcome the challenges of capital fragmentation and provide a highly capital-efficient solution for traders across various blockchains. This article explores the advantages of CCTP on Arbitrum and its potential impact on both the stablecoin ecosystem and the price of the Arbitrum protocol. Contents hide 1…

    Article 2023年6月30日

  • Europe stocks fall and U.S. futures surge after debt deal

    TL;DR Breakdown European stock indexes experienced a decline, while U.S. futures showed a positive trend on news of the U.S. debt ceiling deal. The STOXX 600, a benchmark index for Europe, saw a 0.2% decline, while Tokyo’s Nikkei reached a 33-year high. U.S. President Joe Biden and leading congressional Republican Kevin McCarthy have reached a tentative agreement to raise the federal government’s debt ceiling to $31.4 trillion. In a striking contrast to international markets today, Europe experienced a decline in stock indexes, while U.S. futures displayed a positive surge, riding on the news of a critical debt ceiling deal secured over the weekend. Europe’s market stumble amidst global upswing European stock indexes found themselves in a bit of a predicament as they took a downturn on Monday, even while the euro zone bond yields saw a dip. The STOXX 600, a benchmark index for Europe, witnessed a 0.2% decline by the end of the day. Chinese stocks also followed the same trend after data reflected a slump in profits among the country’s industrial firms. However, the ripple effect of the…

    Article 2023年6月1日
TOP