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DOT Price Analysis: SMA-20 is above SMA-50 and SMA-200

DOT token
  • Polkadot is making a wide range of interoperable blockchains that seeks to establish a fully decentralised and a private hub.
  • DOT was a result of the Web3 foundation(Three founders), a Swiss foundation.
  • The RSI oscillator for DOT shows the SELL action.
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The token has shown the pattern of doji star bearishness in the last 5 hours. The circulating supply is of 978,654,811 DOT coins and the maximum supply is not available. The last known price of the token, DOT, is 13.70 and is low by 8.73% over the last 24 hours. It has the current trading volume(s) of 1,496,515,343 with a gain of 22.01% over the last 24 hours. DOT has holders of 62,851 addresses with the total transfer(s) of 2,337,931 in the last 24 hours. The ATH of the coin was 49.69 on 15 May 2021 and low was 2.69 on August 2020. ROI of DOT is 390.44%(approximate return on investment if purchased at the time of launch).

The chart above shows the movement of DOT where 200 DMA has been running above it. DMA-50 was above it until 24 July. We see the token with respect to SMA’s which are 20, 50, and 200 and it is SMA-20 which is behind one(SMA-200) SMA but above the other(SMA-50). We see a downward pattern. Whenever SMA-20 trailed above SMA-50, we see the rise in returns and such conditions are prevailing now. So we can expect a hike in the price of coins. The trend line marked shows this downward shifting. DOT has provided returns of 15% on an average of the last 30 days.

Its top 10 and 20 holders have more than 55% holdings and top 50 and 100 have more than 60% which makes the decent supply side of the coin.

An RSI oscillator is also present in the chart which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 38.888 and marks the sell action. MA-5 shows the buy action whereas MA-10 and MA-20 show the sell action but MA-100 and MA-200 show the buy action. However, the DOT at present is all set to buy. The trailing above SMA-50 would likely continue for the next 3-4 days.

The bull/bear power has the value of -0.4520 and shows the sell action. The high/low marks the sell action with the value of -0.2738.

The DOT-BTC pair is trailing at the level of 0.0003684 and the low of 5.40 was seen whereas the DOT-ETH pair is trailing at the level of 0.006228 and the low of 2.82% was seen in the last 24 hours. The volume/market cap of the token is 0.116 and its market dominance is 0.92%.

Conclusion: The days range for the coin is 13.381-14.176 and presently is at 13.694. The 24 hours high and low of the coin is 15.29 and 13.40 respectively. We observed that the coin has crossed SMA-50 and SMA-200 now. So it will move above them for the coming 2 days as expected. So based on your assumption do choose the action accordingly.

Technical Instruments:

Pivot: 13.690

R-1: 13.731

R-2: 13.757

S-1: 13.649

S-2: 13.623

Note:

  • The unit is USD
  • SMA-20: Green colour
  • SMA-50: Red colour
  • SMA-200: Blue colour