- On April 9, bullish DOT price analysis is at $28.70.
- DOT’s bearish market price analysis for April 9, 2022 is $16.
- Polkadot’s MA shows the downward trend.
In Polkadot (DOT) price analysis on April 9, 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 9, 2022 is explained below with a two hour time frame.
An ascending channel is a pattern formed from two upward trend lines drawn above and below the price indicating the resistance and support levels. This is a bullish chart pattern defined by a trendline that supports the series of higher lows and a diagonal resistance level that connects the higher highs.
Currently, the price of DOT is $20.31. If the pattern continues, the price of DOT might reach the resistance level of $23.20 and $28.70. If the trend reverses, then the price of DOT may fall to $19.20 and $16.
Polkadot (DOT) Moving Average
The DOT’s Moving Average (MA) is shown in the chart below.
Currently, DOT is in a bearish state. Notably, the DOT price lies below 50 MA (short-term) and 200 MA (short-term), so it is completely in a downward 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.
