Polkadot retains prices above $19: Drops 6%

Polkadot price analysis for April 22, 2022, ends on a bearish note with high chances of losing the $18 price region in the near future.
Polkadot price analysis for April 22, 2022, ends on a bearish note with high chances of losing the $18 price region in the near future.

Polkadot price analysis for April 22, 2022, comes on a bearish note for the token as the token failed to consolidate prices above the $19. Moreover, in the last 24 hours, we saw a drop of 5.13% in the prices. The DOT token fell down to the 18 USD price region, and investors can expect a similar drop in the near future if bulls don’t take over. As predicted in our Polkadot price analysis for April 22, 2022, the DOT token aimed to push above $19 but failed to strengthen. On the other hand, the token is also more than 60% low than its all-time high. 

The data from CoinMarketCap shows that the trading volume of Ripple has dropped by 7.48%, followed by a drop of nearly 5.45% drop in the market cap. Moreover, the Market Dominance dropped to 0.96%, while the Volume / Market Cap Ratio stands at a value of 0.04333. 

The daily candle for the token opened at a price of $18.17 and reached a daily high of $18.39. Meanwhile, the daily low for the token stands at a price of $18.07. At the time of writing, the price of 1 DOT stands at a price of $18.34.

Ripple price analysis for April 22 on the daily chart

The Ripple price analysis for April 22 will take into consideration the data from the indicators placed in the daily chart below.

Polkadot price analysis
Source: TradingView

The RSI indicator reads a value below 45, which confirms that the bears are gathering strength in the market. 

The MACD indicator shows that the MACD line is touching the signal line and but bears might regain control as well. 

The price action for Polkadot is situated in the lower end of the Bollinger Bands, and we can expect a bearish outbreak from the lower region as well. 

Conclusion

Polkadot price analysis for April 22, 2022, ends on a bearish note with high chances of losing the $18 price region in the near future.

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