POLKADOT Price Analysis 9-29: $5 Continues to Elude $DOT



photo 2024 09 29%2019.01.05

Polkadot ($DOT) trades in the red after a very bullish week. $DOT made an excellent run to reach the crucial $5 level, but its progress has stalled. Despite its inability to make it, $DOT is up by over 10% in the past week. 

After a very bullish week, $DOT is trading in the red in the current session. The previous week, $DOT made good progress in chasing its $4.50 level but, unfortunately, could not continue the momentum, closing the week at $4.31. $DOT began the current week positively, registering a 3.48% increase, pushing it above its 50-day SMA. 

A Very Bullish Week for $DOT

$DOT ended the previous in the red after fighting hard to get to the $4.50 level. Despite making a valiant attempt and getting close on Friday (20 September), $DOT could only reach $4.49. The price took a further tumble over the weekend, eventually closing the week out at $4.31, a 3.26% decline. 

Polkadot ($DOT) Reaches $4.50  

While ending the previous week in the red, $DOT started the current week with a bullish bang. On Monday, $DOT registered a 3.48% increase, pushing it above the 50-day SMA and settling at $4.46. $DOT finally rallied on Tuesday, rising above $4.50. After a 4.04% increase, it settled at $4.64.

A volatile session on Wednesday saw sellers try to push $DOT below $4.50 after reaching a day high of $4.77. Buyers were, however, able to fight back, allowing $DOT to remain at $4.64. 

Market Sentiment Turns Positive

Sentiment rose on Thursday which saw the entire market rally. Polkadot ($DOT) followed suit, gaining almost 4% and pushing $DOT to $4.81, and optimistic onlookers expected $DOT to break above $5. On Friday, Polkadot ($DOT) tested resistance at $5, and it rose to a day high of $4.96. $DOT could not continue its upward trend, closing the session at $4.89. 

Sellers Thwart Progress

Saturday saw $DOT trading in the red as buyers lost momentum and sellers took control of the session. $DOT fell to $4.80. The current session sees $DOT in the red again. $DOT is down 0.89%, currently trading for $4.77. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.



Source link

About The Author

Scroll to Top