- On April 6, bullish DOT price analysis is at $31.330.
- DOT’s bearish market price analysis for April 6, 2022 is $15.890.
- Polkadot’s MA shows the upward trend.
In Polkadot (DOT) price analysis on April 6, 2021, 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 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 April 6, 2022 is explained below with a daily time frame.
The daily time frame chart shows the Descending channel pattern. This pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels. The descending channel pattern is also known as a falling channel or channel down. The upper line is identified first, as running along with the highs and is called the trendline.
The lower line is identified as parallel to the trendline, running across the bottom. It is a bearish chart pattern defined by trendline support the series of lower lows and a diagonal resistance level connecting the lower highs.
Currently, the price of DOT is $22.36. If the pattern continues, the price of DOT might reach the resistance level of $31.330 after the breakout point of $23.285. The stop loss of DOT is $20.110. If the trend reverses, then the price of DOT may fall to $15.890.
Polkadot (DOT) Moving Average
The DOT’s Moving Average (MA) is shown in the chart below.
Currently, DOT is in a bullish state. Notably, the DOT price lies above 50 MA (short-term) and 200 MA (short-term), so it is completely in an upward 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.
