Home > News > Polkadot Price (DOT) passes $25 with strong uptrend: What’s next?

Polkadot Price (DOT) passes $25 with strong uptrend: What’s next?

Polkadot got one step closer to reaching its all-time highs as DOT price passed $25

Fundamentals and past price performance

Polkadot entered a major uptrend on 28 December, where it has remained until today. The cryptocurrency managed to rise from $5 lows to highs of above $25 in recent days. This was all made possible by DOT’s fundamentals, which are more than strong.

DOT managed to post week-over-week gains of 17.64%. When compared to other cryptocurrencies, BTC gained 17.63%, while ETH managed to gain 3.89% over the same period.

At the time of writing, DOT is trading for $25, which represents a price increase of 57.57% when compared to the previous month’s value. Polkadot is currently the 6th-largest cryptocurrency by market cap, boasting a value of $22.87 billion.

DOT/USD daily chart price analysis

Polkadot (DOT) has seemingly reached its top after not being able to push past the area around $20.85. However, a recent surge in buying power sparked by fundamentals pushed the price up towards (and past) $25. While it is uncertain on what Polkadot will do now in terms of price direction, one thing is certain: such strong fundamentals will certainly bring its price above its all-time high of $50.70 at some point.

DOT faces a strong resistance zone at the $25 mark, while its first strong support level is at $20.85.

DOT/USD daily price chart. Source: TradingView

DOT’s RSI on the daily timeframe has entered the overbought zone, with its current value sitting at 74.11.

DOT/USD hourly chart price analysis

The hourly time frame shows us a lack of significance for the 21-hour and 50-hour EMAs. This means that traders shouldn’t count on these lines acting as strong support or resistance levels.

DOT/USD 1-hour chart. Source: TradingView

DOT’s volume is still on extremely high levels, indicating that the cryptocurrency is fighting to get past the $25 level.

Sign up to our exclusive newsletter today!

Tailored emails

No SPAM ever!

Alt coin news

Unsub anytime

After signing up, you may also receive occasional special offers from us via email. We will never sell or distribute your data to any third parties. View our privacy policy here.