- DOT found resistance below $17 overnight.
- Support at $15 still holds.
- Next resistance at $19.
Polkadot price analysis is bullish as bulls prepare for another push higher after retesting support around the $15 mark. Therefore, we can expect DOT/USD to move higher over the weekend and try to retest the previous major support area around $19 as a resistance.
The overall market trades with a slight loss over the last 24 hours. Bitcoin has lost almost 1 percent, while Ethereum almost 5 percent. Meanwhile, Shiba Inu (SHIBA) is among the best performers, with a gain of 7.63 percent.
Polkadot price movement in the last 24 hours
DOT/USD traded in a range of $15.08 – $16.72, indicating a good amount of volatility over the past 24 hours. Trading volume has decreased by 16.83 percent and totals $1.159 billion. Meanwhile, the total market cap trades around $14.6 billion, ranking the cryptocurrency in 9th place overall.
DOT/USD 4-hour chart – retests $15 support again
On the 4-hour chart, we can see the Polkadot Price action testing the $15 support over the past hours, likely leading to another push higher over the weekend.
The overall Polkadot price action trades in a bearish price action structure over the past weeks. After some attempts of recovery and reversal at the beginning of June, DOT/USD failed to set a higher high on the 15th of June.
The $26 mark was reached, meaning a lower high, after which a several-day retracement began. Previous support around $19 initially prevented further downside. However, a lower spike was seen on the 21st of June. From there, DOT/USD rapidly moved to the $13 low.
Yesterday, DOT regained its price above the $15 mark. A further high was not seen overnight, indicating that the market is moving sideways and establishing a base to likely push higher later this weekend.
Therefore, we expect the Polkadot price to start trending higher over the next 24 hours and try to retest the $19 previous support as a resistance. From there, DOT/USD will likely move to the downside again, with the following support located around the $10.50 mark.
Polkadot Price Analysis: Conclusion
Polkadot price analysis is bullish for the next 24 hours as the market still holds the $15 support. This should lead DOT/USD towards further upside over the weekend as bulls target a retest of the $19 previous significant support as a resistance.
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