Polkadot (DOT) Price Shows Slowing Uptrend After Monthly Highs
Polkadot (DOT) price has surged over 10% in the past 24 hours and is up an impressive 178.44% in the past 30 days, reflecting strong bullish momentum. However, technical indicators suggest the rally may be losing steam, relative strength index and CMF both showed signs of waning buying pressure.
While DOT’s EMA line remains bullish, fading of the uptrend could cause the price to test support. On the other hand, a resurgence in momentum could push DOT towards the next resistance level and possibly a breakout to its highest levels since April 2022.
DOT RSI cools down
point The RSI is currently at the 62 level, having briefly breached the 70 level for the first time since November 24 before gradually cooling down. The recent break above the 70 level indicates overbought conditions and strong buying momentum, while a pullback to 62 points to a slight slowdown in the economy.
Despite the pullback, the RSI remains in bullish territory, indicating continued optimism among buyers.
The RSI (relative strength index) measures the speed and magnitude of price movements, with values above 70 indicating overbought conditions and values below 30 indicating oversold levels. DOT has an RSI of 62, reflecting healthy momentum, although it is no longer at peak levels.
If the RSI stabilizes or rises back above 70, polka dot Another move higher is possible, but a sustained break below 60 could signal weakening strength and lead to price consolidation or a minor pullback.
Polkadot CMF remains optimistic
DOT’s CMF (Chaikin Fund Flow) currently stands at 0.07, down from the recent peak of 0.22, which was the highest level since November 23rd. The decline suggests that while buying pressure remains, it is less intense than before.
A positive CMF value still indicates net capital inflows pointreflects overall bullish sentiment, but the downward trend signals a potential slowdown.
CMF measures the flow of money in and out of an asset based on price and trading volume, with values above 0 indicating buying pressure and values below 0 indicating selling pressure. Although point CMF remains positive at 0.07 and a decline from 0.22 could mean the bullish momentum is weakening.
If the CMF continues to fall, it could signal increased selling activity, which could lead to price consolidation or a pullback, while a recovery toward higher levels could reignite upward momentum.
DOT Price Prediction: Can Polkadot Reach $12 in December?
point The EMA lines remain bullish, with the short-term line still above the long-term line, indicating continued upward momentum. However, other indicators such as the RSI and CMF suggest that the current uptrend may be weakening.
If buying pressure continues to subside, Polkadot price A test of the $8.4 support is likely, and if this support fails, further declines to $7.5 are possible.
Conversely, if the uptrend resumes strong, point price The target is likely to be the key resistance at $11.6. A break above this level could push the price towards $12, a milestone not seen since April 2022.
Disclaimer
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