The Polkadot price prediction shows that DOT heads to the south as the coin may likely reclaim the losses if the bulls step back.
Polkadot Prediction Statistics Data:
- Polkadot price now – $8
- Polkadot market cap – $7.9 billion
- Polkadot circulating supply – 987.5 million
- Polkadot total supply – 1.1 billion
- Polkadot Coinmarketcap ranking – #11
DOT/USD Market
Key Levels:
Resistance levels: $12, $13, $14
Support levels: $5, $4, $3
DOT/USD is moving sideways as bears may step back into the market. Presently, the Polkadot price may slide below the 9-day and 21-day moving averages as the trend is bringing a bearish inclination. Looking at the technical indicator, the Relative Strength Index (14) nosedives below 60-level as the signal line heads to the south.
Polkadot Price Prediction: Would Polkadot Move Upward?
According to the daily chart, the Polkadot price may continue to face the downtrend, but the best bulls can do is to defend the support at $8 and focus on pushing the price towards the upper boundary of the channel. However, DOT/USD is making an effort to push the price back to the upside, and it is also looking forward to reclaiming the ground past $10 in the next positive direction.
Meanwhile, with an increase in buying pressure, the price may break above the channel to hit the $11 resistance. While trading at this level, a bullish continuation could reach the resistance levels of $12, $13, and $14 respectively. However, if the coin decides to follow the negative side, a minimum swing could bring the price to a $6 support level. Exceeding this level could take the price to the support levels of $5, $4, and $3.
When compared with Bitcoin, the Polkadot price couldn’t cross above the upper boundary of the channel as the price heads to the negative side. According to the recent negative sign, the trend may likely follow the downtrend as soon as the buyers failed to push the price towards the upper boundary of the channel.
However, as the technical indicator Relative Strength Index (14) trades around 60-level, any further downtrend below this level could lower the price to the support level of 3100 SAT and below, once it moves out of this zone, the market price may likely begin an upward trend to push the coin towards the resistance level of 4500 SAT and above.
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Read more:
- How to buy Polkadot
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