POLKADOT PRICE ANALYSIS : The rounding bottom pattern and the bullish descending

[Coin_Gabbar]

Polkadot price analysis is bullish for today, indicating that the price has been moving upward since 7 September 2022, as the bulls have been continuously fighting for the lead.
Bulls pushed the price above the $7.35 barrier yesterday and broke through the $7.55 resistance today. The price has increased to its highest level since August 19, 2022, indicating a new high, which is a bullish sign. The coin has finally escaped the continuous bearish trend after earlier falling. As a result of ongoing efforts, the price has been lifted up to $7.85. A further price increase is also expected in the upcoming days.

The Daily Polkadot price analysis shows that the price has been rising over the past two days. Although the trend previously favoured bears, the conditions have changed, and the overall trend now favours buyers. The DOT/USD value has increased significantly in the previous 24 hours, with the price going up to $7.85, indicating a 9.16 percent increase.

The 4-hour price chart for Polkadot price analysis shows that the DOT/USD price has increased significantly in the last few hours. As a consequence of the continuous bullish efforts, the price has started to recover. The most recent increase in price has pushed it up to $7.85, which has been beneficial to all of cryptocurrency value.

The market capitalization of this DOT is estimated to be $9,559,495,947. The 24-hour trading volume for the same coin is around $452,372,672.

The first major resistance is located at the $8.00 level. Any further rises might push the price up to the $8.50 level. Above $8.50 may touch $10 level soon.

If DOT fails to break $8.00 major resistance, the price may continue to fall below $6.80. The next major support level is at $6.80 If it fails to hold this level then sharp panic selling can be towards $6.00 level.


KEY LEVELS :

RESISTANCE LEVEL : $8.50-$9.70

SUPPORT LEVEL : $7.20-$6.20
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