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Polkadot (DOT) News
On May 25, the bullish DOT price analysis stands at $11.85. DOT’s bearish market price analysis for May 25, 2022 is $8.20. Polkadot’s MA is trending down.
In Polkadot (DOT) price analysis on May 25, 2022, we use price patterns and moving average over DOT to analyze the future movement of the cryptocurrency.
Polka Dot (DOT)
DOT is Polkadot’s native cryptocurrency. In 2016, a blockchain interoperability system protocol was established. It is a sharded blockchain, which means that many different chains are connected to the same network, allowing them to process and transfer data between chains in parallel without sacrificing security.
Polkadot (DOT) Price Analysis
DOT price analysis on May 25, 2022 is explained below within a four hour time frame.
DOT/USDT bearish triangle pattern (Source: Tradingview)
The above hourly frame chart shows DOT’s descending triangle pattern. This pattern indicates a bearish chart pattern, but this is created by drawing one trendline connecting a series of lower highs and a horizontal second line indicates the series of lows. In addition, a breakdown is possible in this case, and this causes traders to take a short position and aggressively push the asset’s price even lower.
Currently, the price of DOT is $10.10. If the pattern continues, DOT’s price could reach the $11.85 resistance level and the $10.65 buy level. If the trend reverses, DOT’s price could drop to $8.20 and DOT’s sell level could drop to $9.45.
Polkadot (DOT) Moving Average
The moving average (MA) of the DOT is shown in the chart below.
DOT MA (Source: Tradingview)
Currently, DOT is in a bearish state. Notably, the DOT price is below 50 MA (short term) and is also below 200 MA (long term). Once it is fully above both 50 and 200 MA, it is said to be a bullish trend. Therefore, there is a possibility of a reversal of the DOT trend at any time.
Disclaimer: The opinion expressed in this chart is solely the author’s. It is not interpreted as investment advice. The NewsCrypto team encourages everyone to do their own research before investing.