Polkadot Price Analysis: DOT Coin Price Is Resting Before A Big Run

• DOT price is currently observing a consolidated momentum on the daily chart. It might hit a low of $10 in the upcoming days
• Polkadot technical indicators suggest a continuation of the consolidation phase for upcoming days . In contrast, the DOT/BTC pair has also observed a loss of 4% in the past 24 hours.

DOT coin price is currently in a consolidation phase and is currently trading near the value of $15.3. It has seen a loss of more than 5% in the past 24 hours. The price of the coin has seen a jump of  more than 375% in less than four month . The downtrend in price can soon see a reversal in upcoming days. DOT/BTC pair is also in a slump but can soon break the previous resistance and reach the new high. One might position their funds in the DOT price as per the price action.

Polkadot token is ranked 9th in the CMC with a market capitalization of  more than $16,713,354,564. The volume of the coin has also seen a drop of 25% in the last 24 hours. The volume to market capitalization ratio for the DOT suggests consolidated momentum. If it jumps above 0.85 then a strong uptrend can be observed.

Technical Indicators Hints At The Continuation Of Consolidated Phase For DOT Coin Price

The weekly technical chart of the Polkadot highlights a weak bearish momentum in price. On the daily chart the price is observing a weak uptrend. The price of the asset is trading below 50 and 100 Daily Moving Average, with a negative cross over in the past. The 50MA line is near $19.75, making it a temporary hostile region for the coin. Resistance for the DOT price on the upside can be seen near $26. Meanwhile a bounceback in the price can be observed from $10.

Polkadot price is trying to form a bullish engulfing pattern on the daily chart. Meanwhile a scenario for downside momentum can also be depicted seeing the current volume and chart. If the price goes above the resistance of $30 then a strong bullish move can be observed. The DOT/BTC pair also suggests an uptrend for upcoming weeks.

Conclusion

DOT coin  price has remained profitable for investors with more than 300% return in just a few month. DOT/BTC pair is currently in a slump but can soon see an uptrend. Investors should do their due diligence before investing.

Technical Levels

Major Support:$10

Major Resistance:$26

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