- The Polkadot (DOT) price closed the previous day’s trade at $6.56 with a market capitalization of $7.30 billion and a circulating supply of 1.12 billion DOT.
- The DOT price has been pretty bullish since the early trading hours and is expected to maintain a firm upswing until it reaches the target before the end of the week.
Polkadot (DOT) PRICE & Technical Analysis
|DOT Price Prediction for Today||$6.87|
|14 Day RSI||32.12|
|Fear and Greed Index||20 (Extreme Fear)|
|Green Days||14/30 (47%)|
Additional Read: Top Altcoins 2022
Polkadot Technical Analysis for the Week
Polkadot price remained heavily consolidated in the past week and closed the weekly trade on a bearish note. However, the DOT price managed to break above the parallel consolidation but is also facing bearish interference at the moment. However, the buying pressure has accumulated well, and hence a notable upswing may make its way out very soon.
The DOT price in the short-term has rebounded, forming a triple bottom and is currently trading at the neckline of the formation. The bullish attempt may pave the way for a healthy upswing that may further rise beyond $6.81 and secure levels above $7 to accomplish the outcome of the triple-bottom formation. By the end of the week, the price may still remain restricted below $7.2, which is considered a trend reversal zone.
Polkadot Technical Analysis at a Glance
DOT price have been heavily undervalued ever since the rally lost its bullish momentum in the last few months of 2021. The bulls held the lower support well but failed to uplift the price beyond the required resistance levels. As a result, Polkadot’s crypto price is struggling to regain a double-digit figure. However, with the beginning of Q4 trade, the prices are expected to rebound by a decent margin.
|Short Term||A significant buying volume has been accumulated, which may keep the upswing going for a while longer.|
|Mid-Term||The price is attempting to rebound from the lower support & hence a decent upswing appears to be imminent.|
|Long-Term||The DOT price has rebounded well from the lower support, but the lack of buying pressure is hindering the rally.|
Additional Read: Polkadot Technical Analysis
Will DOT Price Reach $8 Today?
The Polkadot price has been incremental from the past trading day and hence the bullish momentum is expected to continue until the end of the day’s trade. However, the RSI is currently testing the overbought levels and is indicating a possibility of a minor pullback. Therefore, if the bears regain power, the price may drop close to $6.57.
However, the token is still under bullish influence, which may help the price maintain a significant upswing in the later hours of trading.As the day’s close approaches, the DOT price may rise significantly to reach the immediate target at $7.17. However, an extended bullish impact may also uplift the price beyond $7.2.
Will DOT Price Reach $10 by the End of the Month?
The Polkadot price has remained largely consolidated ever since the market collapsed in May 2022. The volume has depleted heavily since then, which prevented the token from rebounding from the lower support. However, the MACD turning bullish is a ray of hope for a notable upswing as the platform witnessed a slight rise in the volume of-let.
If the buying volume dominates the rally ahead, the price will get a wider boost to test the upper targets, which may rise beyond the double-digit price target very soon. The market sentiment is also expected to rise with the quarterly close being on the cards. Therefore, the Polkadot price prediction for the week could be around $9.5 to $10.1.
Polkadot Price Prediction: Price Trend Comparison with Dogecoin(DOGE)
- Polkadot’s major hindrance in entering the top 10 cryptos is Dogecoin, which has secured the 10th position, while the difference in their market capitalization is pretty small.
- Both the tokens displayed a similar rally, while DOGE gained strength slightly higher than DOT sometimes.
- The DOGE/USDT price reached the highs at around +23.06% and quickly dropped heavily to-19.91% and is currently trading at around-11.34%.
- Conversely, the DOT/USDT price could manage to reach the highs of +11.28% and is presently trading at around-22.45%.
Polkadot Price Prediction: 2022, 2023, 2024, 2025
Polkadot is working to empower the DeFi and the smart contract phase by strengthening their parachains. Therefore, regardless of the market conditions, the platform may be the leader in the decentralized space very soon. However, the 2022 close may not be pretty bullish, but in the upcoming years, the price is expected to regain the lost levels and may also thrive to test the ATH soon.
|Year||DOT Price Forecast|
|2022||$12 to $15|
|2023||$22 to $28|
|2024||$35.6 to $42|
|2025||$55 to $68|
Polkadot News Today
- The most popular stablecoin, Tether(USDT) goes live on Polkadot Blockchain. In an announcement, Tether announced the launch of the token on the decentralized platform
- Acala, a popular decentralized finance Polkadot-based parachain resumed operations post the aUSD exploit which was revealed with an announcement.
Prices as on 27 September, 2022.