Polkadot price analysis: DOT price ready to challenge the $29 mark again

TL;DR Breakdown Polkadot price is expected to rise to $29The closest support level lies at $28Polkadot price is facing resistance at the $29 Polkadot price has finally gone past the $26 mark and strong bullish momentum has carried the price to challenge the $29 mark. Polkadot price records an over 28 percent price hike across the last seven days showing extremely strong bullish dominance. However, the sharp bullish activity leaves room for a volatile price movement Across the broader cryptocurrency market, the last 24 hours have observed a net bullish movement, with most major cryptocurrencies recording a profit across the period. Major players include BNB and Ripple that record a 5.24 and a 0.09 percent increase respectively. Meanwhile Bitcoin and Ethereum record a 3.33 and a 0.81 percent hike. Technical indicators for DOT/USDT Technical indicators for DOT/USDT by Trading view Across the technical indicators, the MACD shows a declining bullish momentum. While the histogram is still green at the time of writing, the histogram’s size has decreased significantly as the price is struggling to climb back above the 1.25 mark. While the 12-EMA still trades above the 26-EMA, the difference between the two is negligible and they may show a reversal at any time. The RSI broke out of the neutral region yesterday but has since dropped back into the neutral zone. The indicator currently trades above the 64.00mark and moves upwards ...