Polkadot breaks above $19: DOT might once again aim for $25

Polkadot price analysis for March 2 confirms that the token has turned bullish, finally breaking the $19 price resistance, and now aims for the $25 price level. It is important to note that as discussed in our March 1 DOT price analysis, the token aims to re-enter the top 10 biggest cryptocurrencies in the market but is currently the 11th biggest crypto in the space after losing its spot in the top 10. 

The data from CoinMarketCap shows that the trading volume of the token has dropped nearly 17.70% in the last 24 hours, followed by a 2.85% rise in the market cap, which stands at $18.9 billion. Meanwhile, the Volume / Market Cap has a value of 0.08482, while the Market Dominance of the token has surged to 0.97%. 

The daily candle for Polkadot opened at a price of $18.90 and reached a daily high of $19.26. Moreover, the daily low for the token stands at $18.39. It is also important to note that the price of 1 DOT at the time of writing is $19.05. The nearest support for the price action stands at $18.

Polkadot price analysis for March 2 on the daily chart

Polkadot price analysis for March 2 on the daily chart confirms that the token has turned bullish, but we will also implement the analysis via three major indicators.

Source: TradingView

The MACD line has broken above the signal line, which means that the bulls are in charge while the histogram is also bullish with green bars. 

The RSI line has broken into the bullish zone and reads 51.79. It is also to be noted that the gradient for today is slightly positive, meaning higher prices are possible. 

The Polkadot price action has surged into the bullish zone and which means that bulls will remain in control.

Conclusion

Polkadot price analysis for March 2 can be confirmed on a bullish note as indicators suggest that it is possible for DOT to break above $20.