Polkadot makes 4th bullish daily candle: Breaks above $19

Polkadot price analysis for April 21, 2022, comes on a bullish note for investors as the token has seen a surge of 3% in the prices in the last 24 hours and we can expect more if the price action holds above the 19 USD price level. The $19 price level was resistance for bulls which has been finally broken and investors are now aiming for the $20 price level. If conditions remain similar, we can see DOT above $20 as well. As noted in our DOT price analysis for April 20, 2022, the nearest support for the token rests at $18.

The data from CoinMarketCap shows that the trading volume of Polkadot has jumped by 43.42% in the last 24 hours, followed by a 3.41% surge in the market cap. Meanwhile, the Volume / Market Cap has a value of 0.04355, while the Market Dominance of the token surged to 0.99%.

The daily candle for Polkadot opened at a price of $19.10 and reached a daily high of $19.45 which acted as resistance. Moreover, the daily low for the token stands at $19.03. It is also important to note that the price of 1 DOT at the time of writing is $19.27. 

Polkadot price analysis for April 21 on the daily chart

Polkadot price analysis for April 21 will take into account the data from the indicators integrated into the daily chart below.

Source: TradingView

The RSI indicator reads a value below 50 which confirms that the bears are gradually moving out of the market.

The MACD indicator shows that the MACD line is touching the signal line and we can see a bullish divergence on the daily chart.

The price action for Polkadot is situated in the lower end of the Bollinger Bands but bulls are aiming to break into the bullish zone as well.

Conclusion

Polkadot price analysis for April 21, 2022, ends on a bullish note for DOT with high chances of breaking $20.