Polkadot price analysis for Feb 15, 2022, confirms that the token has dropped out of the top 10 positions, and at the time of writing, the token is the 12th biggest cryptocurrency in the market. As seen in our DOT price analysis for Feb 14, 2022, the token dropped below the important support of $20, which is now a major resistance for the parachain-based token.
The data from CoinMarketCap shows that the token surged by 4.71% in the last 24 hours, followed by a 5.35% surge in the market cap. Moreover, the Market Dominance of the token rests at 0.98%, while the Volume / Market Cap Ratio rests at a value of 0.04367. Also, the token is 65.01% low from its all-time high of $55 witnessed on Nov 04, 2021.
The daily candle chart for the token opened at a price of $18.7 and reached a daily high of $19.35. Furthermore, the daily low of the token stands at a price of $18.64. At the time of writing, the price of 1 DOT stands at 19.29 USD.
Polkadot price analysis on the daily chart
Polkadot price analysis on the daily chart confirms that the RSI level now reads 42.38 while the gradient of the line is slightly positive. Therefore, it can be concluded that higher prices are possible today.
The price action aims to retest the middle zone of the Bollinger Bands. If successful, the price action will enter the bullish zone, confirming that the bulls are in charge.
The MACD indicator shows that the MACD line (blue) is touching the signal line (orange), which means that a bearish divergence might be seen if the token falls below $18.
Conclusion
Our Polkadot price analysis for Feb 15, 2022, can be concluded on a bullish note for the day but, it is possible that we see the token back above $20 in the near future. On the other hand, Bitcoin has also reclaimed the $43K price level, as per our Bitcoin price analysis for Feb 15.
