Polkadot Price Prediction If the price fails to break above the 21-day moving average, it might drop below the $7 support level.
Polkadot Prediction Statistics:
Polkadot current price – $7.78
Polkadot Market Cap- $7.6 billion
Polkadot Circulating Supply - 987.5 Million
Polkadot Total Supply - 110 Million
Polkadot Coinmarketcap Ranking – 11th
DOT/USD Market
Key Levels:
Resistance Levels: $12, $13, $14
Support Levels: $5, $4, $3
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DOT/USD
Due to the rejection near $7.70, the coin failed to break through the $10 resistance level and is currently still stuck between the 9-day and 21-day moving averages. Due to the new bearish momentum, the Polkadot (DOT) price is currently trading with a loss of 1.02% and its value remains below the market average.
Polkadot Price Prediction: Polkadot Price May Delay Uptrend
As a coin that may face a downtrend, Polkadot price may continue to consolidate in a flag pattern. However, daily analysis shows that as long as the 9-day moving average is below the 21-day moving average, the DOT/USD pair may delay the uptrend. At the same time, if the $7 support level becomes weak, a price drop may occur, and the bears may find support levels at $5, $4, and $3.
On the other hand, an upward breakout of the upper boundary of the channel could push the market towards the nearest resistance level of $10 and then potential resistance levels of $12, $13, and $14. Currently, the technical indicator Relative Strength Index (14) remains below the 50 level, which could keep the coin in a downtrend.
Compared to Bitcoin, the coin is currently trading above the 9-day and 21-day moving averages, and it is important to note that the market is preparing to change trend and a long-term bullish trend is likely to emerge as the technical indicator Relative Strength Index (14) remains around the 60 level, which may find the nearest support level at the 3100 SAT level and below.
However, the bullish trend can resume only if 3700 SAT is able to provide support to the market, and then the price may be able to break through the upper boundary of the channel and hit the resistance level of 4500 SAT and above. At the same time, if the signal line of the technical indicator Relative Strength Index (14) crosses below the 60 level and turns downward, the Polkadot price may fall below the moving averages.
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