TL; DR breakdown
- The DOT price prediction shows that in the current crypto recovery, Polkadot is leading among the top 10 crypto tokens in the crypto sphere, surpassing the $ 45 mark.
- According to the 4-hour chart, the moving average convergence divergence (MACD) confirms Polkadot’s price rise.
- If DOT closes the day below the midline support of the ascending channel, it could trigger a new price correction wave.
At the time of writing, DOT is swapping in the green while leading the crypto-asset recovery package. Currently, polkadot is up about 18 percent to trade hands just above the $ 45 mark. In the past few days, the crypto-asset has positioned itself for bullish momentum hit from its previous support line at $ 28.
DOT Price Prediction: General Price Overview
The past week has been pretty bullish for most of the altcoin in the crypto market. ETH led the pack, recording multiple uninterrupted green daily candles, which helped the crypto coin break above the suspected $ 2,000 mark. Additionally, the second largest crypto token doesn’t appear to be wearing out anytime soon and is continuing its upward trend as it targets a new milestone.
Polkadot appears to be following suit as it has been on the up for seven days. In addition, DOT is becoming the biggest winner among the top crypto coins on the market, with an impressive 20 percent gain on a 24-hour chart. As a result, Polkadot set its own milestone, bypassing the $ 46.6 mark and becoming the fourth largest crypto asset on the market by market cap.
DOT price movement in the last 24 hours
Polkadot’s 24-hour chart shows that the crypto asset is currently seeing a surge in price that is expected to propel the value of the coin to new highs and highs. At the time of this writing, the 4 hour chart shows that DOT is being exchanged within the confines of an ascending parallel channel. Fortunately for DOT, the lower bound support keeps the bears in check. However, the upper bound of the crypto limits the further price movements of Polkadot.
DOT 4-hour chart
Polkadot is currently resting above the upper limit line. If Polkadot maintains its current momentum and closes the day above this critical support line, it will consolidate its stability and position in the crypto market. On the flip side, addresses holding large sums of DOT coins are likely to start selling their assets once the current bull run begins to fade. It should be noted that DOT is neatly in the bulls’ hands right now, as highlighted by the 4 hour moving average convergence divergence (MAD) indicator.
According to DOT’s MACD line, which was cut by the signal line in the last week of March, the crypto coin is still firmly in the positive zone, which is confirmed by the ongoing bullish outlook. It’s also worth noting that a price move above the ascending channel resistance level would mean there is continued demand for DOT, which could push its price higher. However, that move would also weigh on tailwinds, which means there will be delays in the $ 45 region.
On the other hand, losses can occur if the crypto asset ends the day above the middle tier support level. This is likely to trigger overhead and selling pressure due to the current market instability, which causes panic among investors with such a move.
With Polkadot continuing to make lower lows and higher highs, it is wise for investors to keep an eye on the crypto coin as it could go down at any moment. Currently, the crypto coin has outdone itself and is floating in uncharted waters.
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