What do the Long-Term Technicals Predict for Polkadot (DOT) Wednesday?

Wednesday, July 06, 2022 01:35 PM | InvestorsObserver Analysts

Polkadot receives an average long-term technical score of 62 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the coin's consistency, volatility, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. Currently, DOT holds a superior long-term technical analysis score than 62% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover coins that have bottomed out.

InvestorsObserver is giving Polkadot a 62 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

Polkadot's price is -$6.0200000 (-46.54%) below its 100-day moving average price of $12.930000000 as its price at the moment sits at $6.910000000. Additionally, DOT is $0.4800000 (-63.61%) higher than its 52-week low price of $6.430000000 while -$48.09000000 (-5.62%) under its 52-week high of $55.000000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives DOT an average long-term technical score of 62. Long-term trading movement of Polkadot suggest that investors are neutral on the coin at the moment. Polkadot currently has a total market cap of $6,825,513,534.23 to go along with its average daily volume of $3,944,900,141.52 worth of the currency over the past seven days. DOT's volume is below its seven day average as of the past 24 hours, with 504,967,480.93 exchanged in that period. 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

Technical analysis of Polkadot over the past year results in the crypto receiving a an average long-term technical score of 62 as its price movement in that time has given traders reason to be neutral on the coin in the long-term. Click Here to get the full Report on Polkadot (DOT).