Is Polkadot (DOT) Heading the Right Direction Thursday?

15 September 2022

in DOT

Reading Time: 2 mins read

Polkadot receives an average long-term technical score of 57 from InvestorsObserver‘s research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin’s support and resistance levels, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.

DOT currently holds a superior long-term technical analysis score than 57% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. coins with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to ‘buy the dip’.

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InvestorsObserver is giving Polkadot a 57 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Polkadot!

Trading Analysis

The current trading price of $6.930000000 for DOT is -$0.7400000 (-9.64%) below the coins 100-day moving average of $7.670000000. DOT meanwhile is $0.8400000 (-66.73%) above its 52-week low of $6.090000000 and -$48.07000000 (-5.58%) under its 52-week high price of $55.000000000. Polkadot’s current price relative to the coins long-term average and 52-week high and low, gives the crypto an average long-term technical score of 57. The price movement and range of DOT suggest that investors are neutral on the coin at this time.

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Polkadot has a total market value of $7,747,253,231.15 with an high average daily volume of $2,187,850,192.88 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, DOT’s volume is below its average with $368,772,441.38 exchanged in total.

This coin’s subclass Distributed Software Platform: A platform is a decentralized infrastructure designed for a purpose. These can take the form of exchanges for the trading of cryptocurrencies, decentralized data storage, artificial intelligence, virtual or augmented reality, distributed computing and big data collection, among other things.

Summary

Technical analysis of Polkadot over the past year results in the crypto receiving a an average long-term technical score of 57 as its price movement in that time has given traders reason to be neutral on the coin in the long-term.