DOT USDT Polkadot Technical Analysis

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By Frans van Elst

Polkadot logo In this Polkadot technical analysis, we will examine the current price action, trading volume, key levels and indicators for DOT-USDT. 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 decentralized applications and cross-chain interactions. With its unique multi-chain architecture and parachain concept, Polkadot is poised to unlock new use cases and possibilities in the world of blockchain and cryptocurrency.

Polkadot Price Overview:

As of December 05, 2023, Polkadot is trading at approximately 5.769 USDT. Let’s dive into the detailed price action for DOT-USDT:

Envision a bullish outlook for Polkadot (DOTUSDT) at 5.77 USDT with strong support and positive indicators revealed in technical analysis.

Metric Value
Open (O) 5.633
High (H) 5.769
Low (L) 5.511
Close (C) 5.769
Volume (C) 8,799,154.58
  • Open (O): The opening price for today’s trading session was approximately 5.633 USDT.
  • High (H): Polkadot reached a daily high of around 5.769 USDT.
  • Low (L): The daily low for DOT-USDT was approximately 5.511 USDT.
  • Close (C): At the time of analysis, Polkadot is trading near its daily close of 5.769 USDT.
Metric Value
1D Change (%) 2.43%
3D Change (%) 3.72%
7D Change (%) 9.36%
30D Change (%) 21.15%
90D Change (%) 35.04%
YTD Change (%) 33.91%

Over the past three days, DOTUSDT has increased by approximately 3.72%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 9.36%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with DOTUSDT maintaining an upward trend of approximately 21.15%, despite intermittent fluctuations. Examining the last 90 days, DOTUSDT has witnessed substantial increase of approximately 35.04%, reflecting strong long-term confidence. Year-to-date, DOTUSDT has steadily appreciated by around 33.91%, 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-USDT 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 0.57236.
  • Momentum score is 0.21147.

DOT USDT Technical Analysis

Polkadot Trading Volume:

The trading volume for Polkadot (DOT) over the past 24 hours has been significant, with approximately 8,799,154.58 USDT 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 above the 50-day SMA, indicating short-term bullish momentum.
  • 200-day Simple Moving Average (SMA): Polkadot is also trading above the 200-day SMA, indicating a positive long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for DOT-USDT is currently in the high zone, around 61.55667. This suggests that Polkadot is in bullish territory.

Analysis from TradingView:

Our Key Takeaways:

Polkadot (DOT-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the high RSI and significant trading volume are high signals for potential upward movement.

Envision a bullish outlook for Polkadot (DOTUSDT) at 5.77 USDT with strong support and positive indicators revealed in technical analysis.

Unlock additional insights on DOT BTC Polkadot Technical Analysis with our detailed analysis; a must-read if you enjoyed the content of 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.

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