Polkadot Price Analysis: DOT Price Forecast A Weak Bullish Momentum In Upcoming Days

DOT bears are gaining a momentum for the price
  • Polkadot Price is currently trailing inside the parallel channel with a gain of 7.62% in an intraday session.
  • Technical Indicators for DOT price suggests a bullish move. In contrast, the DOT/BTC pair is seeing a bullish move.
Soure:Trading view

Polkadot is one of the most extensive multi-chain protocols with a market capitalization of $$35,104,800,327. DOT price has seen an ROI of 1088% since its inception. It is currently trading at $32.97 with an intraday gain of 7.64%. DOT/BTC pair is also on a bullish move and can see a major breakout in the future.

The coin volume($1,757,759,908) has seen a decrease of 31.92%.The volume to market capitalization ratio for DOT is 0.05, and if it crosses above 0.75, then a huge buying rush can be seen.

Technical Indicators Suggest A Weak Bullish Move For DOT Price Forecast

Source:Trading view
- Advertisement -

The weekly technical chart of Polkadot highlights a bearish move. DOT price is moving in a consolidation zone in the daily time frame. Resistance on the upside for the coin can be seen at $36. Polkadot can bounce back while going down from $30.It is trading above 50 and 100 Moving Average. The 50MA (RED) line is at $32.3, making it temporary support for the current price. On to the time frame of the 4-hour chart, the coin has formed a parallel channel. If the price makes a jump above the parallel channel, it can rise to $50. The coin also forms a bullish engulfing candlestick pattern that can accompany the price rise.

RSI(Bullish): It is trailing at 55.83, showcasing its presence in the overbought zone. There is a positive slope formation in the RSI, highlighting a positive sentiment for the price. RSI depicts a bullish momentum for RSI price.


DOT price has seen a gain of more than 300% from the start of the year.DOT price forecast a bullish gain. The DOT/BTC pair also sees positive momentum and can see a positive breakout in the future. Investors should do their due diligence before investing.

Technical Levels

Major Support:$32

Major Resistance:$40

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

How useful was this post?

Click on a thumb to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Download our App for getting faster updates at your fingertips.

Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

Similar Articles



Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Top Rated NFT Market

Australia's Top Rated Exchange

Top Rated Cryptocurrency Payment Service