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

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

  • A look at Asia’s top weekly news highlights

    TL;DR Breakdown Vitalik Buterin questions the longevity of Hong Kong’s crypto-friendly shift. South Korea initiates a three-month investigation into politicians’ cryptocurrency holdings. India contemplates its cryptocurrency stance, influenced by the G20’s crypto risk framework. Description This week in Asia, a series of high-profile happenings in the cryptoverse grabbed the limelight. Between questionable stances on crypto-friendliness and unexpected partnership announcements, it seems like the entire continent is dancing to the beats of digital coins. But is it all just glitz, or is there some real grit behind the scenes? Hong Kong: … Read more This week in Asia, a series of high-profile happenings in the cryptoverse grabbed the limelight. Between questionable stances on crypto-friendliness and unexpected partnership announcements, it seems like the entire continent is dancing to the beats of digital coins. But is it all just glitz, or is there some real grit behind the scenes? Hong Kong: Crypto-Friendly or Just Playing the Field? Vitalik Buterin, the iconic face behind Ethereum, recently raised an eyebrow at Hong Kong’s seemingly warm embrace of the crypto realm. Now, I’m all for countries…

    Article 2023年9月19日
  • XRP Demonstrates Impressive Growth Milestones in Q2, Reveals Messari Report

    TL;DR Breakdown XRP experienced significant growth in Q2, with a rise in its circulating market cap and average daily NFT transactions. The launch of Coreum and Root Network protocols on XRPL highlights XRP’s commitment to security and metaverse innovations. Description XRP, the digital asset associated with Ripple, has shown remarkable growth in multiple areas during the second quarter (Q2) of this year, according to a recent report from crypto analytics platform Messari. Despite the prevailing negative sentiments surrounding the ongoing Ripple vs SEC lawsuit, XRP has experienced a surge in its circulating market cap and … Read more XRP, the digital asset associated with Ripple, has shown remarkable growth in multiple areas during the second quarter (Q2) of this year, according to a recent report from crypto analytics platform Messari. Despite the prevailing negative sentiments surrounding the ongoing Ripple vs SEC lawsuit, XRP has experienced a surge in its circulating market cap and achieved significant milestones in transaction volume, NFT transactions, sidechain expansion, and more. This article delves into the key growth highlights of XRP during Q2 and explores the…

    Article 2023年7月10日
  • Circle Bolsters $1 Billion Reserve Amidst Rising Competition from PayPal and Traditional Finance

    TL;DR Breakdown Circle’s USDC stablecoin circulation dropped from $45 billion to $26 billion in 2023, prompting a $1 billion reserve to counteract market challenges. Despite market fluctuations, Circle continues to innovate, launching a wallet-as-a-service API as part of its Web3 initiatives. Description In a rapidly evolving financial landscape, Circle, the issuer of the USDC stablecoin, is gearing up to face increasing competition from both the traditional finance and technology sectors. The company has earmarked a whopping $1 billion as a cash reserve to counteract the challenges posed by a declining market capitalization and the entry of new … Read more In a rapidly evolving financial landscape, Circle, the issuer of the USDC stablecoin, is gearing up to face increasing competition from both the traditional finance and technology sectors. The company has earmarked a whopping $1 billion as a cash reserve to counteract the challenges posed by a declining market capitalization and the entry of new players in the stablecoin arena. Contents hide 1 A Decline in Market Share Amidst a Flourishing Revenue Stream 2 Allaire Welcomes New Entrants in the…

    Article 2023年8月11日
  • SEC Chairman calls for increased funding to address noncompliance in crypto markets

    TL;DR Breakdown SEC Chairman Gary Gensler seeks an additional $72 million in funding to address noncompliance issues in the crypto markets and strengthen investor protection. Gensler highlights the prevalence of fraud, scams, and abuse in the industry and emphasizes the need for the SEC to expand its workforce. Lawmakers question the SEC’s handling of alleged fraud at FTX, while Gensler argues for increased resources to fulfill the agency’s mission of advocating for investors and issuers. Description SEC Chairman Gary Gensler has called on the U.S. Senate Committee on Appropriations for a significant budget increase to fortify investor protection in the turbulent cryptocurrency markets. Amid a wave of noncompliance issues within the crypto industry, Gensler firmly advocates for an expanded agency presence. Funding the future of crypto regulation Describing the current state … Read more SEC Chairman Gary Gensler has called on the U.S. Senate Committee on Appropriations for a significant budget increase to fortify investor protection in the turbulent cryptocurrency markets. Amid a wave of noncompliance issues within the crypto industry, Gensler firmly advocates for an expanded agency presence. Funding…

    Article 2023年7月21日
  • Sotheby’s auction nets $10.9M from confiscated NFT artwork

    TL;DR Breakdown In a second auction, Sotheby’s sold $10.9 million in NFTs from insolvent hedge fund Three Arrows Capital. The Goose for $6.2 million, Kyle Davies, co-founder of 3AC, bought it in August 2021 for about 1,800 ETH, or about $5.8 million. Sotheby’s completed a second auction of non-fungible token (NFT) artwork from bankrupt hedge fund Three Arrows Capital, generating over $10.9 million in sales. The collection, featuring works by renowned generative artists, saw high-profile sales, including “The Goose” by Dmitri Cherniak, which sold for $6.2 million. “The Goose” NFT sells for $6.2m in heated bidding A second auction of non-fungible token (NFT) artwork confiscated from the insolvent cryptocurrency hedge fund Three Arrows Capital (3AC) was completed by Sotheby’s on Thursday, netting over $10.9 million in sales. The “Grails” collection was represented at the live auction in New York. There were 37 pieces by generative artists, including Dmitri Cherniak, Tyler Hobbs, Jeff Davis, and others. The Ringers #879 by Dmitri Cherniak, sometimes known as “The Goose” due to its likeness to the bird, was one of the highlights of this…

    Article 2023年6月19日
TOP