In this Polkadot technical analysis, we will examine the current price action, trading volume, key levels and indicators for DOT-BTC. Polkadot is an open-source blockchain platform that enables the interoperability of different blockchain networks, allowing them to communicate and exchange value with one another. This innovative technology has the potential to revolutionize the way we think about blockchain and its applications in various industries. With its unique multi-chain architecture and parachain concept, Polkadot is poised to unlock new use cases and opportunities for developers, entrepreneurs, and investors alike.
Polkadot Price Overview:
As of May 17, 2024, Polkadot is trading at approximately 0.00011 BTC. Let’s dive into the detailed price action for DOT-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00011 |
| High (H) | 0.00011 |
| Low (L) | 0.00011 |
| Close (C) | 0.00011 |
| Volume (C) | 90,607.63 |
- Open (O): The opening price for today’s trading session was approximately 0.00011 BTC.
- High (H): Polkadot reached a daily high of around 0.00011 BTC.
- Low (L): The daily low for DOT-BTC was approximately 0.00011 BTC.
- Close (C): At the time of analysis, Polkadot is trading near its daily close of 0.00011 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.28% |
| 3D Change (%) | 2.09% |
| 7D Change (%) | -3.07% |
| 30D Change (%) | 0.00% |
| 90D Change (%) | -27.95% |
| YTD Change (%) | -44.56% |
Over the past three days, DOTBTC has risen by approximately 2.09%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -3.07%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with DOTBTC maintaining a downward trend of approximately 0.00%, despite intermittent fluctuations. Examining the last 90 days, DOTBTC has witnessed substantial fall of approximately -27.95%, reflecting strong long-term confidence. Year-to-date, DOTBTC has steadily dropped by around -44.56%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Polkadot Live Chart:
You can access a live price chart for DOT-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.56825.
- Momentum score is 0.01415.
DOT BTC Technical Analysis
Polkadot Trading Volume:
The trading volume for Polkadot (DOT) over the past 24 hours has been significant, with approximately 90,607.63 BTC traded against DOT. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): DOT is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Polkadot is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for DOT-BTC is currently in the low zone, around 42.66281. This suggests that Polkadot is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Polkadot (DOT-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Navigate Polkadot’s (DOTBTC) potential downturns at 1.07e-04 BTC with bearish technical analysis, emphasizing weakened support and cautionary indicators.
Discover even more by checking out our comprehensive analysis on DOT USDT Polkadot Technical Analysis — a perfect follow-up if you enjoyed this post.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.