Polkadot (DOT) Price Analysis: June 27

Polkadot (DOT) Price Analysis: June 27
  • On June 27, the bullish DOT price analysis is at $9.30.
  • DOT’s bearish market price analysis for June 27, 2022, is $7.30.
  • Polkadot’s MA shows an upward trend.

In Polkadot (DOT) price analysis on June 27, 2022, we use price patterns, and Moving Average about DOT to analyze the future movement of the cryptocurrency

Polkadot (DOT)

DOT is the native cryptocurrency of Polkadot. A blockchain interoperability system protocol was established in 2016. It is a sharded blockchain, which means that many different chains are connected to the same network, which allows them to process and transfer data between chains in parallel without sacrificing security.

Polkadot (DOT) Price Analysis

DOT price analysis on June 27, 2022, is explained below within an hourly time frame.

DOT/USDT Cup and Handle Pattern (Source: Tradingview)

In a cup and handle pattern, the price movement forms a U-shaped cup and then a subsequent price downward drift forms a handle. In general, this pattern is a characteristic of a bullish trend. If the price breakout and moves towards the uptrend, the bullish pattern is expected to continue.

Currently, the price of DOT is $8.11. If the pattern continues, the price of DOT might reach the resistance level of $9.30 and the buy level is $8.50. If the trend reverses, then the price of DOT may fall to $7.30 and the sell level of DOT is $7.75.

Polkadot (DOT) Moving Average

The DOT’s Moving Average (MA) is shown in the chart below. 

DOT MA (Source: Tradingview)

Currently, DOT is in a bullish state. Notably, the DOT price lies above 50 MA (short-term) and 200 MA (long-term). Therefore, there is a possibility of a reversal trend of DOT at any time.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.