POLKADOT Price Analysis 10-20: $DOT Recovers to Move Past $4.50

Polkadot ($DOT) has recovered to move past $4.50, gaining over 3% during the current session. $DOT is coming off a bullish week, pushing above the 20 and 50-day SMAs. 

$DOT is up over 3% in the current session, and managed to push above $4.50, looking to close the week on a bullish note.

$DOT Weekly Recap

Polkadot ($DOT) closed the previous week on a bearish note, falling to a day low of $3.95 on Thursday. The altcoin dropped to a low of $4.09 last Sunday but recovered to close the session at $4.16, a 0.95% decline. Despite its bearish end to the week prior, $DOT began this week on a bullish note, registering a 5.05% increase on Monday, which pushed the altcoin above the 20 and 50-day SMAs to settle at $4.37. A volatile session on Tuesday saw sellers attempt to push $DOT below its moving averages while buyers tried to push the coin above $4.50. Following a battle between buyers and sellers, $DOT again stalled at $4.50, eventually closing the session at $4.41 – a 0.92% increase. 

$DOT took a turn on Wednesday after buyers lost momentum, dropping by over 2% to $4.32. The altcoin settled just above its moving averages, and market watchers were hopeful that $DOT could recover from this level. Increased selling pressure on Thursday saw $DOT drop below its 20 and 50-day SMAs. Sellers managed to drag $DOT down by over 3% to settle at $4.19. 

Polkadot ($DOT) Makes Significant Recovery

Following Wednesday and Thursday’s severe decline, $DOT substantially recovered on Friday, gaining 2.63% during the session to push back above its moving averages, settling at $4.30. The altcoin continued its recovery on Saturday, gaining 2.84% during the session and settled at $4.43. $DOT came close to pushing above the $4.50 level, reaching a day high of $4.48 before dropping. 

Buyers maintained the upward momentum today, breaking through the crucial $4.50 level. $DOT reached a high of $4.59 during the session before dropping back to $4.57, recording a 3.30% increase over the session.

With buyers currently in charge and a successful push above $4.50, we could see $DOT move to $5. Technical analysis shows that bulls have the upper hand, and Polkadot could potentially jump. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.