Polkadot consolidates below $10; continues its bullish trend
Polkadot continued its bullish trend on Monday and surged to $9.20. The market analysis suggests an upward trend in currency. DOT underwent a decline in the previous two days before restoring today. However, the price is still below $10 and in a consolidation phase. Cryptopolitian reports that the coin showed an 11% increase over the last seven days. Monday’s trade volume is higher compared to the previous day. The bullish trend will likely continue and provide greater returns for the investors in the upcoming days. However, the volatile market forces investors to remain cautious.
Polkadot volatility is comparatively lower
Cryptopolitian reports show that volatility is lower due to the convergence of the Bollinger bands; they have shrunk in the area on Monday compared to the past few days. The upper band is present at $9.77 band, and the lower band is at $7.49. The mean average lies at $8.63, below today’s price level. The reports show that the relative strength index (RSI) lies at 58 in the upper half of the neutral zone; the present upward trend encourages buyers to enter the trading market. The data displayed a downward indicator curve during the last two days. Several buyers will benefit from today’s market.
Polkadot’s market analysis and technical indicators
Monday’s four-hour session displayed positive signs for Polkadot. The price surge will encourage the buyers to trade and take advantage of the bullish trend. The reports predict a bullish trend for today; however, a break from the $10 mark might not be possible. Despite the divergence of the Bollinger bands, DOT will continue its positive trend throughout the rest of the day. The RSI has dipped slightly to 48, indicating more extraordinary market sales. The coin’s fate in the days ahead remains under the spotlight, and the recovery might take a little longer.