Polkadot (DOT) Price Analysis: May 26

Polkadot (DOT) Price Analysis: May 26
  • On May 26, the bullish DOT price analysis is at $11.85.
  • DOT’s bearish market price analysis for May 26, 2022, is $8.22.
  • Polkadot’s MA shows a downward trend.

In Polkadot (DOT) price analysis on May 26, 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 May 26 2022 is explained below within a two-hour time frame.

DOT/USDT Descending Triangle Pattern (Source: Tradingview)

The above hourly frame chart shows the Descending triangle pattern of DOT. This pattern indicates a bearish chart pattern, however, this is created by drawing one trend line that connects a series of lower highs and a horizontal second line indicates the series of low. Moreover, a breakdown is possible in this case, and this makes traders enter a short position and aggressively force the price of the asset even lower.

Currently, the price of DOT is $9.93. If the pattern continues, the price of DOT might reach the resistance level of $11.85 and the buy level of $10.65. If the trend reverses, then the price of DOT may fall to $8.22 and the sell level of DOT is $9.45.

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 bearish state. Notably, the DOT price lies below 50 MA (short-term), and also lies below 200 MA (long-term). Once it completely lies above both 50 and 200 MA it is said to be a bullish trend. 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.