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- 1 Polkadot price prediction showcases the decline of DOT crypto inside the falling wedge pattern over the daily time frame chart.
- 2 DOT crypto has slipped below 20, 50, 100 and 200-days Daily Moving Average.
- 3 The pair of DOT/BTC was at 0.0001644 BTC with an intraday drop of 3.20%.
Polkadot price prediction indicates the fall of DOT crypto inside an interesting declining pattern over the daily time frame chart. DOT crypto price must escape this falling wedge pattern over the charts to initiate the recovery phase. The Polkadot cryptocurrency price has slumped around 18.48% in a month whereas 30.88% in the last three months. This demonstrates the fear of buyers to hold DOT crypto these days.
Polkadot price was at $4.40 and has lost 2.87% of its market capitalization during the day’s trading session. However, trading volume has increased by 8.84% during the intraday trading session. This indicates the involvement of buyers in the trade to push DOT cryptocurrency. Volume to market cap ratio was at 0.0191.
What do Technical Indicators Suggest About Polkadot Price?
Polkadot price prediction shows declining momentum of DOT cryptocurrency over the daily time frame chart. DOT crypto needs to accumulate more buyers during the intraday trading session. Meanwhile, volume change can be seen below average and needs to grow for DOT crypto price to experience any directional change.
Polkadot price has gained around 2.32% year to date giving hopes to the investors in DOT cryptocurrency. Technical indicators suggest the oversold condition of DOT crypto price.
Relative strength index showcases the downtrend in momentum of DOT crypto to be in the oversold region. RSI was at 30 and is in the oversold zone. MACD exhibits the downward momentum of DOT crypto. The MACD line is below the signal line after a negative crossover.
Summary
Polkadot price prediction indicates the fall of DOT crypto inside an interesting declining pattern over the daily time frame chart. The Polkadot cryptocurrency price has slumped around 18.48% in a month whereas 30.88% in the last three months. Meanwhile, volume change can be seen below average and needs to grow for DOT crypto price to experience any directional change. Technical indicators suggest the oversold condition of DOT crypto price. The MACD line is below the signal line after a negative crossover. RSI was at 30 and is in the oversold zone.
Technical Levels
Resistance Levels: $4.65 and $5.00
Support Levels:$4.35 and $4.20
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
