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NewsBTC 2022-07-29 12:05:54

Polkadot (DOT) Grinds 15% Higher Amid Sustained Buying

There’s no stopping Polkadot (DOT) price as it continues to locomote up. It’s the second consecutive day of winning streak for Polkadot as it spiked by 15% in gains. According to CoinMarketCap, Polkadot (DOT) price is currently up by 5.92% or at $8.02. It currently has a total market cap of 7,916,976,700 as of this writing. DOT price has experienced sustained and robust buying pressure after touching on lows on Tuesday at $6.52. The coin has successfully bounced back from the $6.50 support line. Can DOT Spike To $8.50? The coin has recovered steadily as seen in the past two sessions and has also generated heightened massive investor interest and price hike. A breach above the $8.00 level would reinforce gains for DOT. Looking at the daily chart, DOT price has been experiencing resistance close to the sloping line that stretches from $9.5.But, the downside is seen close to the $6.25 zone. Breaking through the resistance level of $8.05 requires strong buying pressure. Polkadot price is looking extremely volatile and continues to be unpredictable in terms of price movement. Meanwhile, the bulls are trying to jab the price pushing it further the descending trend line. As DOT/USD nears the 50-day EMA or Exponential Moving Average, the price could potentially shoot for $8.50. Additionally, RSI has also traversed the average line and could jump higher. RSI is currently at 56. With the hourly time frame, DOT price hints more gains or ...

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