Polkadot price analysis: DOT rejected at $4.700, moves down to $4.640

• Polkadot worth evaluation suggests downward motion to $4.600
• The closest help stage lies at $4.632
• DOT faces resistance on the $6.700 mark

The Polkadot worth evaluation reveals that the DOT worth motion has been rejected on the $4.700 mark and strikes again in direction of the $4.600 stage. 

The broader cryptocurrency market noticed a bullish market sentiment over the past 24 hours as most main cryptocurrencies recorded optimistic worth actions with low volatility. Main gamers embrace BTG and ETC, recording a 9.69 % and a 8.07 % incline, respectively. 

Polkadot worth evaluation: DOT rejected at $4.700

The MACD is presently bearish, as expressed within the purple color of the histogram. Nevertheless, the indicator reveals low momentum because the indicator has solely not too long ago exhibited a bearish crossover. Alternatively, the darker shade of the histogram suggests an rising bearish momentum as the value falls in direction of the $4.600. 

The EMAs are presently buying and selling excessive above to the imply place as internet worth motion over the past ten days stays optimistic. Furthermore, the 2 EMAs buying and selling carefully present low momentum. Moreover, the diverging indicators recommend an rising bearish momentum throughout the 4-hour charts. 

The RSI briefly rose to the overbought area however has since moved again into the impartial zone as the value motion was rejected at $4.70. Presently, the index is buying and selling on the 57.53 unit stage with a slight downwards slope. The indicator doesn’t problem a sign in the meanwhile however the slope suggests bearish stress on the time.  

The Bollinger Bands are presently slim as the value volatility decreases close to the $4.600 mark and present convergence as the value motion returns to the indicator’s imply line. The indicator’s backside line offers help at $4.559 mark whereas the higher restrict presents a resistance stage on the $4.704 mark.

Technical analyses for DOT/USDT

Total, the 4-hour Polkadot worth evaluation points a purchase sign, with 12 of the 26 main technical indicators supporting the bears . Alternatively, solely 4 of the symptoms help the bears exhibiting low bullish presence in latest hours. On the identical time, ten indicators sit on the fence and help neither aspect of the market. 

The 24-hour Polkadot worth evaluation shares this sentiment and in addition problem a promote sign with 11 indicators suggesting an upwards motion in opposition to solely seven suggesting downwards motion for the asset throughout the timeframe. The evaluation reveals bearish dominance throughout the day by day body with sugnificant bullish presence nonetheless current. In the meantime, eight indicators stay impartial and don’t problem any alerts at press time. 

What to anticipate from Polkadot worth evaluation?

The Polkadot worth evaluation reveals that after rising to the $4.700 mark, the value motion did not climb any additional and was rejected on the stage because the bulls have been overextended. At press time, the value has fallen under $4.650 because the bears proceed pushing. 

Merchants ought to count on DOT to maneuver downwards to the $4.600 mark as the value motion observes a correction for the steep bullish motion. Because the 4-hour evaluation reveals bullish presence, the value could be anticipated to cease at $4.600 mark, nevertheless, in case of a downwards breakdown, the following help stage lies at $4.500 mark.