Polkadot price analysis: DOT recovers $18.00 support but can the bulls hold on?
TL;DR Breakdown
- Polkadot price analysis suggests sideways movement below $20.00
- The closest support level lies at $18.00
- DOT faces resistance at the $19.00 mark
The Polkadot price analysis shows that despite the strong bearish activity, the bulls are able to fight back and have recovered from the lows of $16.17 to the current level above $18.50. However, strong bearish pressure still weighs on the price action making upwards movement difficult.
https://www.cryptopolitan.com/polkadot-price-analysis-2022-01-22/Across the technical indicators, the MACD is currently bearish as expressed in the red color of the histogram. Furthermore, the recent crash of the entire cryptocurrency market suggests further downwards movement as the selling continues. However, the lighter shade of the histogram suggests a declining bearish momentum as the bulls fight back to recover to the $20.00 mark.
Polkadot will be one of the best performers of this crypto winter.
Are you bullish or bearish on DOT for 2022?
