Search Inside Bitcoins

Polkadot Price Prediction for Today, 05 December: DOT Commences a Bullish Trend at $5.0 Level

adot Price Prediction for Today, 05 December: DOT Commences a Bullish Trend at $5.0 Level
adot Price Prediction for Today, 05 December: DOT Commences a Bullish Trend at $5.0 Level

Join Our Telegram channel to stay up to date on breaking news coverage

There is strong bullish momentum in the Polkadot market

DOTUSD Price Analysis – 05 December

Should the resistance level of $5.9 not hold, bulls’ pressure may break up the resistance level of $5.9, then, the $6.7 and $7.6 levels may be tested. An interruption from the sellers may lead to a further decrease in Polkadot towards the support levels of $5.6, $5.3, and $5.0.

 

DOT/USD Market

Key levels:

Resistance levels $5.9, $6.7, $7.6

Support levels: $5.6, $5.3, $5.0

DOTUSD Long-term Trend: Bullish

DOTUSD is on a bullish movement on the long-term outlook. Sellers pushed down the coin from the high of $7.6. The price eventually found support at $5.0 level. The crypto has tested the level twice with strong bearish pressure.  On November 29, the price bounced up and penetrated the resistance level of $5.3 and $5.6 levels. Polkadot is already exposed to the $5.9 level.

The fast Moving Average (9-periods EMA) is struggling to cross the slow Moving Average (21-periods EMA) upside and the price is above the two EMAs as a sign of bullish movement. Should the resistance level of $5.9 not hold, bulls’ pressure may break up the resistance level of $5.9, then, the $6.7 and $7.6 levels may be tested. An interruption from the sellers may lead to a further decrease in price towards the support levels of $5.6, $5.3, and $5.0.

DOTUSD medium-term Trend: Bullish

DOTUSD is bullish on the 4-hour chart. The sellers’ momentum looks weak when it reaches the support level of $5.0. It seems buyers are gaining more pressure and the price is increasing toward $5.9 resistance level. The price action has formed a double bottom chart pattern on the 4-hour time frame. Further price increase envisaged.

The 9-periods EMA has crossed the 21-period EMA upside and the price is trading above the two EMAs.  The relative strength index period 14 is at 64 levels with the signal lines pointing upside to indicate a buy signal. Polkadot is slowly going up whereas IMPT is already at the high level in the market.

When the presale has been concluded, Uniswap, LBank, and Changelly Pro will list IMPT for trading. Those who invest in Impact Token (IMPT) will be able to claim them as from December 12, 2022. In order to do this, they will connect the wallets they used to buy the tokens initially, and the token will be dropped into their wallets. It is great to be green, and close to $14.5 million has already been raised for this environmentally friendly project.

In addition, all traders and investors can conveniently stay in the loop with all the events affecting cryptocurrencies; thanks to our groundbreaking Dash 2 Trade platform. You will not miss any important events on the cryptocurrency market, because the platform helps you stay on top of your trading game. D2T presale dashboard is launching soon as the product dev is ahead of schedule. In the ongoing presale, almost $8.5 million has been raised.

Related

Dash 2 Trade - Crypto Analytics Platform

Our Rating

Dash 2 Trade
  • KYC Verified & Audited
  • Native Token D2T Featured in Cointelegraph
  • Now Listed on Bitmart, Gate.io, LBank & Uniswap
Dash 2 Trade

Join Our Telegram channel to stay up to date on breaking news coverage

Read next

X

FightOut Presale - Earn Crypto for Working Out

FightOut Presale - Earn Crypto for Working Out

FightOut Presale - Earn Crypto for Working Out

X