- Polkadot crypto price is trading at $6.85 with an intraday gain of 1%.
- Polkadot price has been struggling between 20-Day and 100-Day EMAs for the last two weeks.
As per the chart structure, the Polkadot (DOT) price has been falling by facing resistance from the trendline. The DOT crypto price has declined by 30% in the past 6 weeks after a bullish momentum which indicates the profit booking.
The DOT price has been in a bullish trend since the last week of October and jumped by 160% till December. The positive trend was interrupted near the $9.50 zone and further performed negatively.
Current Price – $6.79 Fear & Greed Index – 64 (Greed)
Price Prediction – $6.34 (-6.26%) Market cap – $8.66 billion
Volatility – 6.48% Volume – $147.74 million
Sentiment – Neutral 200-day EMA – $6.04
Green days – 15/30 (50%) RSI – 46.84
The Polkadot crypto price is forecasted to drop by 6.26% to reach $6.34 by February 11, 2024. The volatility is 6.48% and the fear and greed index is 64 (greed). The Polkadot price has performed bullish for 15 days in the last 30 days which shows the neutral sentiment.
The market capitalization of Polkadot is $8.66 Billion and according to the market cap, Polkadot ranks 13th in the cryptocurrency market. The 24-hour trading volume of DOT crypto is 147.74 Million which has dropped by 10%.
Will the DOT Price Extend to the $10 Mark By Next Month?
The Polkadot crypto price has been in a bearish trend and declined by facing resistance from the trendline. Recently, the DOT price has formed a hammer candlestick on the 200-Day moving average and further performed positively.
If the Polkadot price gives a breakout from the trendline, a buying signal can be initiated and the price may extend to $10 soon. Furthermore, if the DOT price spends some time near the $10 hurdle and gives a positive breakout with strong volume, strong buying momentum can be observed which may lead to a trend reversal.
On the other hand, if the Polkadot price slips below the 100-Day EMA and fails to defend the 200-Day EMA, selling pressure can be seen and the price may drop to the $5 mark.
Polkadot Price Prediction FAQs
What is the DOT price prediction today?
The Polkadot price is predicted to gain 1.43% to hit 6.83 by today.
What is the Polkadot price prediction for tomorrow?
Based on our technical analysis, the DOT crypto price will gain 2.54% to approach $6.96 by tomorrow.
What is the DOT price forecast for this week?
According to our analysis, the Polkadot crypto price is predicted to perform positively. DOT price may be lifted to the $7.32 mark by the end of this week.
What is the current DOT price sentiment?
The current DOT price sentiment is neutral according to our technical analysis.
Summary
Based on the current analysis of the Polkadot (DOT) price, it appears that the cryptocurrency is likely to perform positively shortly. While the price has been struggling between the 20-Day and 100-Day EMAs for the past two weeks, the recent hammer candlestick formation on the 200-Day moving average suggests a potential trend reversal.
Technical Levels
Resistance: $7.70 & $9.50
Support: $5.68 & $4.85
Disclaimer
Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is especially volatile and speculative, and this article does not advise investing in cryptocurrencies or other ICOs. Since everyone is unique, a certified professional should be continually consulted before making any economic decisions.