- A 6% surge has pushed Polkadot to the $4.52 range.
- DOT’s daily trading volume has jumped by 27%.
Despite a gradual recovery, cryptocurrency prices continue to fluctuate. The Fear and Greed Index holds at 23, reflecting persistent fear in the market. Meanwhile, Polkadot (DOT) has jumped by more than 6.13%.
The retest of asset’s crucial resistance levels confirms the absolute bullish control. Polkadot opened the day trading at a low of $4.25. With the revival of bulls, the asset has climbed toward the $4.55 range.
At the time of writing, Polkadot traded within the $4.52 range with its market cap reaching $7.05 billion. Besides, the daily trading volume of DOT is resting at $205 million. The market recorded $346.87K in Polkadot liquidations over this timeframe.
Contrarily, Nasdaq has submitted Form 19b-4, seeking approval from the US Securities and Exchange Commission (SEC) to allow 21Shares to list and trade shares of a Polkadot exchange-traded fund (ETF).
Will Polkadot Continue to Climb Higher?
DOT’s steady bullish price action might provoke it to jump toward the crucial zone at $4.72. Assuming the asset’s prolonged gain, the Polkadot price could mount up and reach the $5 mark.
If the trend takes a turn, the price of Polkadot might slip and test the $4.45 level. The emergence of a death cross reinforces the bearish momentum of DOT, and it could push down the price to $4.
The Moving Average Convergence Divergence (MACD) line of Polkadot has crossed over the signal line. This indicates a bullish crossover and a potential upward price movement in the market.
In addition, the Chaikin Money Flow (CMF) indicator positioned at -0.17 suggests that the money is flowing out of the asset. Meanwhile, Polkadot’s daily trading volume has jumped by over 27.94%.
The Bull Bear Power (BBP) value staying at 0.21 infers mild bullish sentiment and a continuation of more upside. DOT’s daily relative strength index (RSI) at 66.31 implies the asset is approaching overbought territory.
