Polkadot (DOT) Slumps Further After The Formation Of Bearish Double Top Pattern

23 April 2021 | Updated: 23 April 2021

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polkadot (DOT) Price Long-term Trend: Ranging
Polkadot’s price is in a downward move after buyers retested the $48 overhead resistance. The retesting of the overhead resistance on April 5 and 18, suggests the formation of a bearish double top pattern. This bearish double top pattern will cause the DOT price to fall. Today, the market has fallen to the low of $27.50 and it pulled back. There is the tendency of price falling on the upside.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
DOT price has fallen below the 21-day SMA and the 50-day SMA which suggests that the coin is in the bearish trend zone. It implies that the coin is capable of falling on the downside. DOT/USD is also at level 37 of the Relative Strength Index period 14. It indicates that the coin is approaching the oversold region of the market.

Polkadot (DOT) Medium-term Trend: Bearish
On the 4-hour chart, the altcoin is in a downward move. On April 18 downtrend; a retraced candle body tested the 61.8% retracement level. This retracement indicates that DOT is likely to fall to level 1.618 Fibonacci extension or the low of $21.70. From the price action, the market has fallen to the low of $29.65 at the time of writing.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is below the 40% range of the daily stochastic. It is in a bearish momentum. The 21-day and 50-day SMAs are sloping downward indicating the downtrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) has a bearish double top formation. The implication is that the coin will further depreciate on the downside. According to the Fibonacci tool, the market will fall to the low of $21.70.


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Polkadot (DOT) Is Stuck Below $46 As Price Fluctuates Between $38 And $44

16 April 2021 | Updated: 16 April 2021

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polkadot (DOT) Price Long-term Trend: Ranging
For the past week, DOT price has been in a sideways move after its rejection at the $46 high. Today, the Polkadot is in a downward correction as price fluctuates between levels $38 and $44. In the previous week, buyers pushed the DOT price to the high of $46 but were resisted. DOT price pulled back and retested the recent high. There was a bearish reaction as the altcoin plunged to $38 low. Today, the crypto fluctuated between the range-bound levels. A retest at $46 overhead resistance is possible if price breaks above the minor resistance at $44.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
DOT price is above the 21-day SMA and the 50-day SMA which indicates a possible rise in price. The altcoin is at level 57 of the Relative Strength Index period 14. DOT is in the uptrend zone and capable of rising.


Polkadot (DOT) Medium-term Trend: Bullish
On the 4-hour chart, the altcoin is in a consolidation. On April 3 uptrend; a retraced candle body tested the 61.8% retracement level. This retracement indicates that DOT is likely to rise to level 1.618 Fibonacci extension or the high of $58.44.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is below the 80% range of the daily stochastic. It is in a bearish momentum. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) is range-bound as price faces rejection at level $46. DOT price is expected to resume upward. According to Fibonacci tool, DOT will rise to $58.25 high if the $46 resistance is breached.

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Polkadot (DOT) Price Retests the $40 Overhead Resistance, May Continue Sideways Move

2 April 2021 | Updated: 2 April 2021

Key Resistance Levels: $40, $42, $44
Key Support Levels: $30,$28,$26

Polkadot (DOT) Price Long-term Trend: Ranging
For the past week, the DOT price has been rising towards the $40 overhead resistance. Today, the brief uptrend has reached bullish exhaustion. The overhead resistance is resisting a further upward move. The crypto will eventually fall because of the resistance at the recent high. This has been the price action since February 20. Each time the coin is repelled the market will fall to the lower range. DOT/USD price is fluctuating between $28 and $40. Polkadot will trend if buyers breach the $40 overhead resistance. The sideways trend will continue if the overhead resistance remained unbroken.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping horizontally. The crypto’s price is above the SMAs which indicates a possible rise in price. DOT has risen to level 55 of the Relative Strength Index period 14. DOT is in the uptrend and is capable of rising on the upside.

Polkadot (DOT) Medium-term Trend: Bullish
On the 4-hour chart, the altcoin is in an upward move. The Fibonacci tool has indicated an upward movement of the coin. On March 31 uptrend; a retraced candle body tested the 61.8% retracement level. This retracement indicates that DOT is likely to rise to level 1.618 Fibonacci extension or the high of $41.16.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is above the 80% range of the daily stochastic. It indicates that the pair is in the overbought region. Sellers are likely to emerge in the overbought region. The SMAs are sloping upward indicating the uptrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) price is still range-bound between levels $28 and $40. The upward move is doubtful because of the resistance at $40. More so, DOT price is in the overbought region of the market. The crypto is likely to fall based on the price action.

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Polkadot (DOT) Breaks $28 Support Level, May Resume the Uptrend

26 March 2021 | Updated: 26 March 2021

Key Resistance Levels: $40, $42, $44
Key Support Levels: $30,$28,$26

Polkadot (DOT) Price Long-term Trend: Ranging
On March 20, DOT attempted to breach the $40 resistance but were repelled. Consequently, the bears push the crypto to $28 low. This resulted in breaking the lower price range. The recent support is holding as bulls buy the dips. This is a bullish signal for range-bound traders who can initiate long trades at the lower price range. This trade can be exited near the resistance zone. Nevertheless, if the bulls face rejection at the resistance zone, a short trade can also be initiated. This can be closed near the support zone. This trading can be done consistently until the coin resumes trending.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping horizontally. DOT is fallen to level 40 of the Relative Strength Index period 14. This indicates that the pair is in the downtrend zone. It is likely to fall as it is in the bullish trend zone.

Polkadot (DOT) Medium-term Trend: Bearish
On the 4-hour chart, the altcoin is in a downward move. The crypto has already fallen to the $28 low. The Fibonacci tool has indicated a further downward movement of price if the current support is breached. On March 24 downtrend, the crypto dropped to $28. The retraced candle body tested the 78.6% retracement level. This indicates that DOT is likely to fall to level 1.272 Fibonacci extension or the low of $25.92.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is above the 25% range of the daily stochastic. It indicates that the pair is in a bullish momentum. The SMAs are sloping southward indicating the downtrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) has fallen to the lower price range. If the support holds, the range-bound movement will resume. DOT is trading at $30.68 at the time of writing. From every indication the range-bound movement will continue as there are bullish signals.

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Polkadot (DOT) Is Range Bound Between $28 and $40, a Breakout or Breakdown Is Imminent

19 March 2021 | Updated: 19 March 2021

Key Resistance Levels: $40, $42, $44
Key Support Levels: $30,$28,$26

Polkadot (DOT) Price Long-term Trend: Ranging
For the past month, DOT has been in range-bound movement because of rejection at the recent high. The cryptocurrency is facing rejection at the $40 high. The crypto is fluctuating between $28 and $40. DOT will resume an uptrend if the $40 overhead resistance is breached. Conversely, if the bears break the $28 support, the market will decline to $16 low. Meanwhile, the coin is likely to rise, if the crypto’s price is sustained above the moving averages.

DOT – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating the previous upward. Dot price may rise as it is above the SMAs. DOT is at level 54 of the Relative Strength Index period 14. This indicates that the pair is in the uptrend zone and it is capable of rising on the upside.

Polkadot (DOT) Medium-term Trend: Ranging
On the 4-hour chart, the altcoin has resumed a range bound movement between $32 and $38. Since February 20, the price has been fluctuating between the range-bound level. A range-bound trader can initiate a short order at the resistance level and exit near the support. Similarly, a long order can be initiated at the support, while you exit close to the résistance zone. Presently, the price is in the middle of the chart.

DOT – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is below the 80% range of the daily stochastic. It indicates that the pair is in a bearish momentum. The SMAs are sloping horizontally indicating the sideways trend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) is yet a trend as crypto continues its range-bound movement. The coin may soon encounter a price breakout or breakdown. The bulls will be on advantage if the price is sustained above the moving averages.

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Polkadot (DOT) Is in a Sideways Trend, Fluctuates Between $36 and $38

12 March 2021 | Updated: 12 March 2021

Key Resistance Levels: $40, $42, $44
Key Support Levels: $30,$28,$26

Polkadot (DOT) Price Long-term Trend: Ranging
DOT price is presently stuck below $38 for the past two days. The coin is now fluctuating between $36 and $38. Buyers were able to push the crypto to the high of $40 but could not sustain the uptrend. The price was repelled after reaching the overbought region. Presently, the price is falling toward the lower price range. If it breaks below $36 support; it will further decline to $34 low. However, if the $36 support holds, the crypto will continue its range bound movement between $36 and $38.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating upward. However, the market is presently in a sideways move. DOT is at level 60 of the Relative Strength Index period 14. This indicates that the pair is in the uptrend zone and above the centerline 50.

Polkadot (DOT) Medium-term Trend: Bearish
On the 4-hour chart, the pair rose to $40 high but was resisted. DOT fell to a $36 low and resumed a sideways trend. On March 11 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DOT will fall to level 1.272 Fibonacci extension or the low of $34.95 and reverse.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is currently below the 40% range of the daily stochastic. It indicates that the pair is in a bearish momentum. The SMAs are sloping upward indicating the uptrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) is presently consolidating between $36 and $38. According to the Fibonacci tool, the market will further decline to 1.272 Fibonacci extension or the low of $34.95. Thereafter, the cryptocurrency may resume upward.

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Polkadot (DOT) Hovers above $32 Support, May Resume Upward

5 March 2021 | Updated: 5 March 2021

Key Resistance Levels: $35, $37.50, $40
Key Support Levels: $25,$22.50,$20

Polkadot (DOT) Price Long-term Trend: Bearish
Presently, Polkadot is in an uptrend. In the first uptrend, the coin was resisted at $40 and it retraced to $30 low. Buyers pushed the coin upward for the second time and were repelled at the resistance zone. The crypto is likely to find support above the 21-day SMA. On February 20, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that DOT will rise to reach level 2.0 Fibonacci extension or the high $61.21.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMAs are sloping upward indicating upward. DOT is at level 56 of the Relative Strength Index period 14. This indicates that the pair is in the uptrend zone and above the centerline 50.

Polkadot (DOT) Medium-term Trend: Bearish
On the 30-mins chart, the pair is in a downward move. The coin fell to $32 low and corrected upward. The upward correction was short-lived as the crypto resumes downward. Nonetheless, if the coin falls and breaks below $32, the selling pressure will persist. On March 5 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that DOT will fall to level 1.618 Fibonacci extension or the low of $30.05 and reverse. From the price action, DOT is hovering above $32 support for a possible reversal.

DOT/USD – 30-Mins Hour Chart

4-hour Chart Indicators Reading
The altcoin is currently below the 30% range of the daily stochastic. It indicates that the pair is in a bearish momentum. The SMAs are sloping downward indicating a downtrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) is still retracing after the second rejection from the resistance zone at $40. The upward movement will resume if DOT finds support either above $32 or $30. At the same time, the bulls have to break the $40 overhead resistance. According to the Fibonacci tool, DOT has a target price of $61, if the current resistance is breached.


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Polkadot and Cardano Will Surpass Bitcoin in Value: FD7

26 February 2021 | Updated: 26 February 2021

The Dubai-based cryptocurrency investment fund, FD7, believes that the value of Cardano (ADA) and Polkadot (DOT) will surpass that of Bitcoin (BTC) in the coming years. Consequently, the firm has announced that it will offload about $750 million worth of its BTC holdings and increase its exposure in ADA and DOT.

FD7 (Fall Down Seven Times) Ventures describes itself as a cryptocurrency-focused investment fund that “invests in entrepreneurs who stand up an 8th time” and has more than $1 billion in asset under management invested in several crypto assets, including Bitcoin, Ethereum, Polkadot, Cardano, and Cosmos.

The investment firm noted that it has begun to slowly phase-out $750 million worth of Bitcoin while simultaneously increasing its holding in ADA and DOT.

FD7 affirmed that this investment shift would “better serve the needs of FD7 investors who are looking to diversify their portfolios in the growing cryptocurrency space.”

Meanwhile, the fund’s Managing Director, Prakash Chand, had some not-so-good remarks about the benchmark cryptocurrency following the announcement. He said that: “Aside from the fact that Bitcoin was the first to market and society has given it meaning as a store of value, I think Bitcoin is pretty useless.”

Furthermore, he highlighted the prospects of cryptocurrencies like Ethereum, Cardano, and Polkadot, noting that they “will be more valuable than Bitcoin within the next few years.”

FD7 Lauds ADA and DOT’s Founders
In other news, the press release lauded the founders of Cardano and Polkadot, Charles Hoskinson and Dr. Gavin Wood, describing them as “two of the brightest minds working in the crypto development space today” and highlighted their contributions to the establishment of Ethereum years ago.

The fund noted that its decision to venture into ADA and DOT was based primarily on the reputation of the cryptocurrencies.

Meanwhile, Hoskinson has responded to the news via his Twitter account, saying that FD7 was welcomed to the Cardano ecosystem and that he was ready to offer technical assistance if needed.

 

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Polkadot (DOT) Price Rebounds, Aiming for Higher Breakout

25 February 2021 | Updated: 25 February 2021

DOTUSD Price Analysis – February 25

With the Polkadot (DOT) price up to around 10% in 7 days and 0.24% in 24hrs, all eyes are on the coin to deliver further gains. After DOTUSD recovered from the weekly low of $25.82 level the pair looks to sustain the advance beyond the $35.54 daily high. At the time of writing DOT token is worth around $34.00.

Key Levels
Resistance Levels: $42.71, $40.13, $37.24
Support Levels: $29.34, $25.91, $23.05
DOTUSD Long term Trend: Ranging
As observed on the daily chart, after its recent pullback, the altcoin holds above the $25 level and ditches the corrective downtrend seen across the crypto board last week. DOTUSD price has recovered from the selling frenzy and is climbing higher in hopes of establishing a new uptrend.

A rise in buying pressure here could propel the DOT token to its intended target at $50. DOTUSD traders need to be aware that rejection at either $36.20 and MA 5 zone or the resistance barrier at $37.24 may be disastrous. If this occurs, DOT would re-enter the consolidation phase and slide to the 78.6% retracement level at $29.34.
DOTUSD Short term Trend: Ranging
On the 4-hour time frame, DOTUSD price continues to hover around its MA 5 and 13 while the Relative Strength Index (RSI) stays well within its midlines, both of which indicating more price consolidations which may eventually lead to an upside rally.

A test of the upside measured goal past the $36 marks remains on the cards should the bulls find acceptance above its near term MA 5 and 13 around the $35.00 level. The psychological $40 level could come into play if the bulls extend their control. Alternatively, the horizontal resistance at $37.24 could limit the upside run and cap the pair.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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Polkadot Price Prediction – 2021 and Beyond

24 February 2021 | Updated: 24 February 2021

Polkadot is a next-generation blockchain protocol connecting multiple specialized blockchains into one unified network. 

Similar to Cosmos, this is a multi-chain system intended to promote the connectivity and scalability of blockchains that can be linked to its “Relay Chain”.

Many modern coins have been created using blockchain technologies to solve specific problems. Polkadot, however, was founded with hopes of solving the blockchain problem itself. 

Polkadot uses a relay chain, which serves as a hub for parachutes to link and arrange consensus and for the exchange of messages and data between parachutes to be made. The tokens allow users to build or uninstall new parachutes.

The network and the approved blockchains will both be linked to the system. The possibility is that the chains will be separated from the rest of the system and that the data can be transferred to other structures and the network security can be strengthened. 

At some point in time, Polkadot rose to recognition by becoming the fifth largest blockchain when DOT hit ATH, which happened in mid-January 2021.

Gavin Wood, who is a co-founder of Ethereum, first introduced Polkadot to the market in 2016.  

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How does Polkadot (DOT) work?

The mechanism of game theory for good behaviour (GBG), which Polkadot uses works by rewarding good behaviour and sanctioning a bad one, thus making the experience much easier to understand. This is an important element that helps to promote autonomy within the network. 

The environment does not have any miners so it works by choosing to use a specific algorithm. This helps the owners to monitor special occasions better and makes their experience less prone to causing headaches. 

A few significant updates have been revealed to be made later on the platform. Interestingly, one of them involves a decision to alter the design of the chain.

The Polkadot digital currency (DOT)

The native currency of the Polkadot digital currency platform is known as the DOT. This cryptocurrency excels in its ability to offer solutions to issues within the network:

  • Parachain: Short name for “parallel chains”. These separate blockchains will work through the Polkadot network, in parallel.
  • Relay circuit: All individual blockchains will be connected to this main Polkadot circuit.
  • Chain Bridge: Chain bridges are explicitly designed to compatibilize the Polkadot ecosystem with other existing blockchains like Bitcoin, Ethereum and others. 

The course is very dynamic

During the first ICO, a single coin was valued at about $30 but later the price moved up at around $6 when the digital currency found itself being issued formally. Later along the road, it experienced a sudden fall that ended up lowering its value to $2.81. Nevertheless, a large number of new tokens were produced during the redomination period. This fact ended up causing Polkadot to formally introduce itself to the top 10 cryptocurrency chart as the redomination period ended up triggering a sudden jump in its price. 

There are key elements that are considered to play a major role in favour of cryptocurrency. The Polkadot protocol scales at a steady constant pace and as such, it doesn’t directly compete with Ethereum, which as a result can solve the problem with the high fees of Ethereum.

In recent weeks, in terms of projects and price, DOT has experienced a major increase, so to speak. Data that was collected from PolkaProject indicates that the Polkadot ecosystem boasts about 197 projects in its network. Another very important fact is that Polkadot, as far as smart contracts go, it has established itself as one of the best developers in this field.

What are the Advantages and Disadvantages of Investing in Polkadot?

Well, as cryptocurrency trends are seeing major shifts in respect to new digital currencies that offer better performance compared to the older ones, Polkadot is definitely noted as an astonishing part of the competition. People who are looking to invest in other well-known cryptocurrencies on the market such as BTC or ETH, can still benefit from DOT as a very valuable substitute. 

Gavin Wood excelled with his idea behind the currency and made sure that its technology stands its own ground against major competitors such as Ethereum, and frankly, it proves to be so much better. Being a scalable network that depends on a relay chain system, DOT saw the crypto market increasingly getting more and more interested in the coin. 

When considering the major advantages, there are still some important disadvantages that you should be aware of…

Polkadot, as a new up-and-coming project was met with some significant struggles along its path to stardom. One of them is definitely the fact that its technology is considerably more sophisticated which made the DOT framework harder to understand at first for users who came upon the technology of ETH or BTC. However, perhaps the toughest challenge is making Polkadot interoperable with other competitors in the cryptocurrency market. Users are required to create a bridge to the chain, in order to be able to pass Bitcoin or Ethereum, which further complicates the process which otherwise should have been easy. 

The lack of data on Polkadot is another significant problem as it makes the process of price predictions almost impossible to be carried out due to the volatility. Even though DOT is regarded as stable at the moment, it could prove very difficult to predict the prices because of these minimal graph information as the digital coin is still in its early days.

Polkadot (DOT) 2021 price predictions

According to Coinmarketcap Polkadot price at the moment is $36.50. 2020 has been a great year for Polkadot as cryptocurrency has experienced a significant increase. Forecasters are optimistic when predicting the Polkadot price for 2021. According to Digitalcoin Polkadot may reach as high as $260.61.

Polkadot price prediction chart for 2021. Source: Digitalcoin

Longforecast is optimistic also predicting that the Polkadot price may reach as high as $248.57 in 2021.
Walletinvestor also has a positive approach when forecasting the Polkadot price for 2021. 

Polkadot 2022, 2023, 2024, 2025 and 2028 price predictions


According to forecasts, Polkadot is expected to increase in price in the following years. Digitalcoin predicts that Polkadot may reach as high as $471.12 in 2022. Longforecast has a more conservative approach when predicting Polkadot price in long term. 

Digitalcoin is even more optimistic when making its prediction for 2025 forecasting that the DOT price may reach up to $125.38. Moreover, according to Digitalcoin, Polkadot may experience an increase all the way to $1974 in 2028. 

Moreover, experts are mostly assuming that in the near future the DOT token will hit a high price. Spartan Black, a major Asian crypto fund, thinks that Polkadot (DOT) already has an opportunity for revenue and will soon be seeing itself as one of the top three cryptocurrencies by market capitalization. 

There are also “overly optimistic” predictions such as the one from the famous Crypto Youtuber BitboyCrypto who predicts that Polkadot price may hit $326 in this bull cycle in 2021. 

Should You Invest in Polkadot? – Final Thoughts

Ultimately, you may ask, is investing in DOT worthwhile? In the DeFi and cryptocurrency sectors, Polkadot is increasingly gaining momentum. Polkadot ventures rapidly achieve high value due to fast integration and broad aggregation. Polkadot has a dedicated team behind and a clear vision for its future goals. Moreover, according to the forecast mentioned above, Polkadot is expected to increase in price in 2021 and in the coming years, which make it a good investment option.

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