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- 1 Polkadot price prediction stays bullish till it holds the $4.500 level.
- 2 DOT price recovered about 30% from the recent swing low at $4.300.
- 3 Polkadot crypto price is recovering by forming higher high swings.
Polkadot price prediction is bullish and suggests prices might outperform in 2024. DOT price is rising upward by forming higher highs swings and succeeding to regain the $5.00 mark.
Polkadot price struggles between the 50-day and 200-day to reverse the trend. The 200-day EMA is acting as an immediate hurdle for the bulls. If buyers succeed to break the EMA hurdle, then the price might begin the journey to reach $7.00.
In mid-June 2023, the downfall in DOT crypto price took a halt near $4.200. Later, responsive buyers came forward to push the price higher, and slowly prices recovered and showed signs of a trend reversal.
Polkadot crypto price formed a strong base near $5.00 and the downside looks limited. If the prices consolidate for a few months in the range of $5.00 to $6.00, then the probability of the upward range expansion will substantially increase.
Polkadot price is trading at $5.480 with an intraday rise of 2.33%. The 24-hour volume to market cap is 3.69%. The pair of DOT/BTC is in a downtrend and trading at 0.0001833, with an intraday rise of 2.00%.
Will DOT Price Reach $10.00 in 2024?
Polkadot price prediction turned bullish. However, the price will gain momentum only above the $7.00 level. DOT price is near equilibrium and needs fresh buying for the upward range expansion.
Buyers tried multiple times to break the $6.00 hurdle but faced rejection due to the strong presence of seller prices. However, the Polkadot price holds the 50-day EMA and buyers are trying their best to rebound.
Till the DOT crypto price sustains above the $5.00 support, the possibility of reaching $10.00 will remain high. On the other hand, if the price drops below $5.00, the bears may try to pull it down to previous lows.
DOT Price Analysis on a Weekly Time Frame
DOT price formed a bullish reversal pattern on the weekly time frame. The broader crypto market and BTC price is mildly bullish which might positively impact other Altcoins.
The RSI curve at 58 sloping upward denotes the strength of bulls and more room for upside trend is open. The MACD curve sloping sideways indicates prices lack direction and might consolidate for some time.
Conclusion
Polkadot price prediction favors the bulls and suggests a rise in the long run. DOT price is in recovery mode and buyers are trying to climb above the 200-day EMA. If Polkadot crypto price holds $5.00, then it might get doubled in 2024.
Technical Levels
- Resistance levels: $7.000 and $8.000
- Support levels: $5.000 and $4.500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets 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.
