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Polkadot [DOT] continues to make bulls comfortable; Could the coin be eyeing $45?

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The latest slump in the crypto-verse took several coins to the grave. Polkadot [DOT], Dogecoin [DOGE], and a few others were the only ones that seemed to have survived the recent carnage. Bitcoin [BTC] was seen recovering from its journey below $50K. At the time of writing, Ethereum [ETH] was back above $4K and all the other altcoins were seen healing. Amidst this ordeal, Dogecoin raced to the top with a price change of 32% in the last 24-hours. Despite this, DOGE remained below $1.

During press time, Polkadot was trading for $41.18 with a 6.16% surge in the last 24-hours. After hitting an all-time high of $48, the altcoin retraced and never got close to this number.

Throughout the year, altcoin was seen aiming for the moon, not only in terms of price but also in market cap. The market cap of the altcoin witnessed exponential growth which helped the asset land a spot on the top five. Now, however, DOT’s market cap was noted at $38 billion and was surpassed by the new cryptocurrency, Internet Computer [ICP].

Polkadot [DOT] One-Hour Price Chart On Binance

Polkadot

DOT market on the cryptocurrency exchange, Binance was exerting extreme bullishness. On the one-hour price chart of DOT, the Parabolic SAR indicator placed dotted lines below the candlesticks affirming the presence of the bulls. While the Awesome Oscillator was confused between the bulls and the bears, the MACD indicator confirmed a bullish momentum in the DOT market.

With a green closing bar, the Awesome Oscillator chose the bulls. A bullish crossover was noted as the MACD line was over the signal line. While all the signs pointed out at the bulls, the asset’s chances of surging to $45 were strong.

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The Relative Strength Index indicator noted that there was no major buying or selling activity in the market on the short-term price chart of Polkadot. However, the RSI marker was inclining towards the buyers’ side.

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