https://ift.tt/0obx3RP Price Analysis: April 11

• On April 11, bullish DOT price analysis is at $20.40.
• DOT’s bearish market price analysis for April 11, 2022 is $19.30.
• Polkadot’s MA shows the downward trend.

In Polkadot (DOT) price analysis on April 11, 2021, we use price patterns, and Moving Average about DOT to analyze the future movement of the cryptocurrency. 

Polkadot (DOT)

DOT is the native cryptocurrency of polkadot. A blockchain interoperability system protocol established in 2016. It is a sharded blockchain, which means that many different chains are connected to the same network, which allows them to process and transfer data between chains in parallel without sacrificing security.

Polkadot (DOT) Price Analysis

DOT price analysis on April 11, 2022 is explained below with an hourly time frame.

The falling wedge is a bullish pattern. Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. The falling wedge pattern occurs when the asset’s price is moving in an overall bullish trend before the price action corrects lower. The most common falling wedge formation occurs in a clear uptrend. The price action trades higher, however, the buyers lose the momentum at one point and the nears take temporary control over the price action. It is a continuation pattern formed when the price bounces between two downward sloping, converging trendlines. 

Currently, the price of DOT is $19.56. If the pattern continues, the price of DOT might reach the resistance level of $19.87 and $20.40. If the trend reverses, then the price of DOT may fall to $19.30.

Polkadot (DOT) Moving Average

The DOT’s Moving Average (MA) is shown in the chart below. 

Currently, DOT is in a bearish state. Notably, the DOT price lies below 50 MA (short-term) and 200 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of DOT at any time.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.