By Alicia Maher
Polkadot (DOT) traded beyond its prior minimum of $23.50 as at December 20. DOT’s value recently recovered from its prior minimum for the 2nd attempt. The value has dropped to a similar low level on the 4th December. Altcoins have risen beyond the twenty-one day rising trendline owing to the resurgence. The increasing trend has maintained in the positive direction.
Polkadot’s bullish trend would resurface when investors move the altcoin over the fifty day rising trendline. To put it another way, purchasers must keep prices over the $40 mark. The positive trend would continue to the former peak of $55 in the near future. DOT/USD, on the other hand, is reaching the $31 peak but currently trades at $29.33.
Analytics of The DOT Indication
DOT have risen to threshold 48 upon that fourteen period RSI due to its current rising surge. This suggests that cryptocurrency remains in a decline but is on the verge of reversing. Polkadot’s value is higher than the twenty-one day rising trendline yet lower than the fifty day rising trendline. The digital currency is trading beyond the everyday stochastic’s 80 percent region. The altcoin currently trades at the crypto-market’s overbought zone. Within the overbought zone, the price may fall.
DOT/USD 4 hour price chart. Source: TradingView
Chart patterns analysis are as follows:
- Major Resistance Levels – $52 and $56
- Major Support Levels – $28 and $24
What are DOT’s plans for the future?
Polkadot have continued its ascending trends on the four-hour indicator. It presently trades in the industry’s overbought region. However, a regression pattern have appeared in the increase since 23rd December, targeting the 78.6 percent Fibonacci retracement line. The retracement points to Polkadot rising, while then reversing somewhere at 1.272 Fibonacci extensions target of $29.29.
Wallet Analyst predicted that Polkadot currency’s value would reach $25.73 at the beginning of 2022, which was pessimistic in the short run. Nevertheless, it predicted that the value would increase in the future, reaching an average of $51.4 before the ending of next year and $129 before the ending of 2025.
According to DigitalCoin’s DOT forecast, Polkadot’s value would average $41.7 by 2022, increase to $43.6 by 2023, and $52 by 2025. According to DigitalCoin, DOT might start trading at an average value of $114 in 2028, reaching a high of $119.
According to Price Prediction’s DOT cryptocurrency estimate, the token will average $37 by 2022, $52.9 by 2023, as well as $112.7 by 2025. It predicted that by 2030, the value would have risen to an average of $766.
It’s vital to remember that digital currency markets are still incredibly unpredictable, rendering it challenging to anticipate an asset’s value in a matter of hours, and even more challenging to make lengthy predictions. As a result, experts and predicting platforms are capable of making mistakes and do make mistakes.
Prior to actually considering every financial choice, we urge you to conduct your independent studies and take into account the most recent economic dynamics, news, technical and basic analysis, and professional advice. You must also keep in mind that previous financial success does not promise subsequent results, and you must not spend greater than you could potentially lose.