The Polkadot price prediction shows that DOT is facing south and could probably touch the nearest support level at $7.
Polkadot prediction statistical data:
- Polkadot price now – $7.27
- Polkadot Market Cap – $7.1 billion
- Polkadot Circulating Supply – 987.5 million
- Total Polkadot supply – 1.1 billion
- Polkadot Coinmarketcap Ranking – #12
Resistance levels: $12, $13, $14
Support Levels: $4, $3, $2
DOT/USD continues to vary as the coin moves downward. At the time of writing, Polkadot price is likely to slip below the 9-day and 21-day moving averages if the bears increase pressure. However, the Relative Strength Index (14) technical indicator is also moving to break below the 50 level as the signal line heads south.
Polkadot Price Prediction: Polkadot Might Earn More Downside
As seen on the daily chart, the Polka Dot Price may continue to face the downtrend as soon as the coin crosses below the 9-day and 21-day moving averages. The best the bulls can do is defend the support at $7 and start pushing the price towards the upper boundary of the channel. However, DOT/USD is likely to make an effort to push the price higher, and it is also eager to reclaim ground beyond $8 in the next positive direction.
Nonetheless, with an increase in buying pressure, Polkadot price might break above the channel to reach the $8 resistance. While trading at this level, a bullish continuation could reach the resistance levels of $12, $13, and $14 respectively. However, if the coin starts to track the negative side, a bearish move could take the price to the support levels of $4, $3, and $2.
Against Bitcoin, the Polkadot price remains below the 9-day and 21-day moving averages as the price heads towards the negative side. According to the chart, the trend could probably follow the downtrend if the buyers fail to push the price above the upper boundary of the channel.
The Relative Strength Index (14) technical indicator is moving above the 40 level, any bearish movement below this barrier could push the price down to the 2500 SAT support level and below. On the contrary, the market price may start an upward trend which could push the coin to reach the resistance level of 4200 SAT and above.
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