Is Polkadot (DOT) Heading the Right Direction Wednesday?

Wednesday, January 05, 2022 10:47 AM | InvestorsObserver Analysts

Polkadot receives an average long-term technical score of 65 from InvestorsObserver's research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin's support and resistance levels, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. DOT currently holds a superior long-term technical analysis score than 65% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. coins with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to 'buy the dip'.

InvestorsObserver is giving Polkadot a 65 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Polkadot!

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Trading Analysis

The current trading price of $29.930000000 for DOT is -$6.4700000 (-17.76%) below the coins 100-day moving average of $36.400000000. DOT meanwhile is $22.7000000 (261.92%) above its 52-week low of $7.230000000 and -$25.07000000 (36.24%) under its 52-week high price of $55.000000000. Polkadot's current price relative to the coins long-term average and 52-week high and low, gives the crypto an average long-term technical score of 65. The price movement and range of DOT suggest that investors are neutral on the coin at this time. Polkadot has a market capitalization of $29,561,398,269.83 and a relatively high average daily volume with $12,461,554,821.69 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, DOT's volume is below its seven day average with 1,345,612,366.62 exchanged. This coin's subclass Distributed Software Platform: A platform is a decentralized infrastructure designed for a purpose. These can take the form of exchanges for the trading of cryptocurrencies, decentralized data storage, artificial intelligence, virtual or augmented reality, distributed computing and big data collection, among other things.

Summary

DOT's historical trading over the past year gives it a an average long-term technical score of 65 as its price movement in that time has given investors reason to be neutral on the coin in the long-term. Click Here to get the full Report on Polkadot (DOT).