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- DOT token price shows strength below pivot level on Thursday’s trading session
- The 24-hour trading volume in Polkadot is at $2.27 billion
- The DOT/BTC pair was trading at 0.00064635 BTC with a gain of 4.45%
The daily technical chart of DOT token price forecasts a bullish trend. According to pivot points, DOT’s critical support level is at $15.0. Whereas if it moves up, the necessary resistance level to watch is $28.0. While diving into the chart, it completes a Dragonfly Doji candlestick pattern representing buyers being able to sustain the price at a certain level.
The Ichimoku Cloud, consisting of Lead 1 & Lead 2 with a displacement value of 1. It acts as a pivot level and a leading indicator in the asset price change. Investors may witness the price break below the green Moku Cloud and now float below the red Moku Cloud, so until the price resides below the red Moku Cloud, it will assure a bearish trend in Polkadot.
RSI indicator (BEARISH), with a value of K- 41 & D-32, indicates a sell signal in the coin. Moreover, Investors can see an upward slope and a positive crossover in the index, which may surge in future trading sessions.
The volume of (11.27M) is below the Volume MA (32.16M) of 20-days. High buying pressure is still required in Polkadot to drive its price to higher levels.
Polkadot (DOT) Token Price Action Gives Positive Crossover In Stochastic RSI
DOT token price traded at $23.80 with a gain of 5.80% daily and 9% up in a week. Furthermore, DOT price is marching towards the red Moku cloud. In contrast, the market capitalization drops at $22.68 billion. Technically, investors can perceive the price below the red Moku Cloud. The stochastic RSI index showcases an upward slope with a positive crossover. Low trading volume has been directed in the asset. Moreover, the price movement can be towards the resistance of $28.0 in future trading sessions.
Resistance: $28.0
Support: $15.0
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