On July 14, the bullish DOT price analysis is at $7.32.
DOT’s bearish market price analysis for July 14, 2022, is $5.47.
Polkadot’s MA shows a downward trend.
In Polkadot (DOT) price analysis on July 14, 2022, we use price patterns, and Moving Average about DOT to analyze the future movement of the cryptocurrency.
Polkadot (DOT)
The Polkadot is the next-generation blockchain that attempts to promote a heterogenous multi-chai framework. The ecosystem tries to resolve many of the limitations that blockchain currently holds, like scalability and security. DOT is the native cryptocurrency of Polkadot. More so, Polkadot (DOT) is a blockchain with a cor network, the relay chain where other blockchains connect and communicate with each other.
Hence, Polkadot is designed to operate two types of blockchains. The main network is called a relay chain, where transactions are permanent, and user-creates networks called parachains.
Polkadot (DOT) Price Analysis
DOT price analysis on July 14 is 2022 is explained below within a four-hour time frame.
The above chart of Polkadot (DOT) laid out the descending channel pattern, also known as the falling channel. A descending channel is formed by two parallel trendlines. Furthermore, the upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.
Currently, the price of DOT is $6.30. If the pattern continues, the price of DOT might reach the resistance level of $7.32 and the buy level of $6.53 If the trend reverses, then the price of DOT may fall to $5.47 and the sell level of $6.08.
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 also lies below 200 MA (long-term). Henceforth, when DOT completely moves above 50 & 200 MA then it is said to be a bullish 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.
