The Polkadot price shows bearish signs today. DOT has been declining after crossing the $18.66 resistance level. The bearish trend is observed as trading volume grew more than 18%. Polkadot price analysis shows that there will be potential gains as the price rises to the $15.84 support level.
DOT price with 55% upturn to occur
It is expected that the market cap will drop 7%. Additionally, after consolidation, DOT will provide the opportunity to buy before the expected rally to $27. The buying opportunity will be before a 55% upturn on offer.
The 24-hour price action will take place near the $19.06 resistance level. According to reports, an upturn would occur beyond this price. It is a healthy buying opportunity for investors worldwide, as reported by Cryptopolitan.
The bearish activity was observed in the Polkadot price
News reports suggest an increasing bearish momentum in the cryptocurrency market after Bitcoin’s 3% decline. Bitcoin stays above $38,000, whereas Ethereum diminished to 6%. The report also adds that Ethereum moved towards $2,600, and a downward trend in the price was seen. The fall in the price of Altcoins and Ripple has created a wave of worry.
Ripple dropped with Cardano, Dogecoin, and Terra. In addition to this, Litecoin’s price is now facing losses with a drop to $102.97. This fall is expected to be seen in Solana as well. It dropped down to $89.20.
Start of the upward trend
Polkadot price analysis shows positive signs on the 24-hour chart. It is a clear sign of an uptrend. Experts observed price hovering of DOT in a close range since February 17. 25- and 50-days exponential moving average at $17.78 will head up the crypto market.
DOT forms a rectangular pattern, but it can change later in the trading sessions. Because of the $19 mark in the US market, the relative strength index increases market valuation at 49.37.
One can expect the price to show bullish highs above a neutral zone. In addition, traders should expect bullish trends in moving average convergence divergence (MACD).
