- The Polkadot price closed the previous day’s trade at $7.18 with a market capitalization of $7.85 billion and a circulating supply of 1.11 billion DOT
- DOT price in the past couple of days appears to have gained significant bullish momentum and hence may be poised for an upswing of nearly 30% in the coming days.
Polkadot (DOT) PRICE & Technical ANALYSIS
|DOT Price Prediction for Today||$7.95|
|14 Day RSI||42.95|
|Fear and Greed Index||25 (Extreme Fear)|
Polkadot Technical Analysis for the Month
Polkadot price is trading above $7 & has maintained firmly through the month of August and is currently hovering at around the same levels it traded during the beginning of the month. Despite a huge drop, the price appears to be extremely bullish as the asset held the lower support firmly and rebounded with extreme buying pressure.
After recording a bullish start for the month, the DOT price is expected to maintain a notable upswing ahead. The upswing could elevate the price beyond 2-digit levels initially & if the asset surpasses the crucial resistance at $10.48, the asset may close the September trade above $11.80.
Additional Read: Polkadot Technical Analysis
Polkadot Technical Analysis at a Glance
Polkadot price appears to have accomplished the bearish trend in the past couple of days. However, the confirmation of an upcoming bullish trend can be ascertained, when the DOT price tests & clears the pivotal levels. While the trading volume remains squeezed, the volatility of the asset may also tend to drop. In such cases, no steep upswings or corrections may be expected ahead.
|Short-Term||The DOT price is slowly ranging high, facing constant challenges from the bears and hence may continue with a consolidated trend|
|Mid-Term||The asset has bottomed hard and appears to be preparing for a significant rebound as the selling pressure appears to have eased a bit|
|Long-Term||Polkadot is attempting for a rebound but facing a lack of volume required to rise above the support levels|
Polkadot Price Prediction 2022
Will DOT Price Reach $7.8 Today?
Polkadot price gained a huge bullish push during the previous trading day and since then maintained a notable uptrend, forming bullish flags constantly. Presently, the price is approaching the apex of the current consolidation and hence seems to be closer to a breakout in the next couple of hours.
With a breakout, the price is expected to test the immediate resistance at $7.4 and once cleared may continue ranging high. However, the price may face a slight pullback at $7.5 which may compel the asset to consolidate for a while. However, by the end of the trading day, the DOT price is expected to surge beyond $7.5.
Will DOT Price Reach $11 by the End of the Month?
The DOT price after undergoing a significant upswing has again tapped the same lower support and hence appears to be ready for another leg up. Despite the current bearish challenge, the price seems to be poised to regain the lost levels above $10 in the coming days. Therefore, the price may rise slowly yet steadily as the strength is still not in favour of the bears.
During the H1 of September 2022, one can expect a decent surge above $9, surpassing a couple of barriers at $7.67 & $8.86. Withstanding the bearish interference, the DOT price may resume to pile up and eventually secure levels above $10. The Polkadot price prediction for the month of September is between $10.5 to $10.68.
Polkadot Price Prediction: Price Trend Comparison with Solana
- Polkadot & Solana are among the known competitors within the crypto space aiming to be the biggest ‘Ethereum killers’
- Both assets maintained a significant and a similar trend throughout the month of August, but appear slightly decoupled during the last few days
- The DOT price reached the highs at around 14.83% but dropped later and currently trading at around -12.83%
- Conversely, the SOL price reached the highs at 8.66%, but dropped hard to hover at around -27.81% at the press time.
Additional Read: Solana Price Prediction
Polkadot Price Prediction: 2022, 2023, 2024, 2025
Polkadot price has been heavily undervalued ever since the asset dropped and failed to recover strongly. However, the asset has been trading horizontally for the past couple of months, flashing the signals of greener days ahead. Therefore, by the end of the year 2022, the DOT price is expected to break above the current consolidation to lay down a strong foundation of a strong bullish trend ahead.
|Year||DOT Price Forecast|
|2022||$7.35 to $9.3|
|2023||$13.89 to $16.78|
|2024||$19.88 to $22.45|
|2025||$28.74 to $33.56|
Additional Read: Top Cryptos this Week
Polkadot News Today
- The Polkadot ecosystem recently released a new update which intends increase the efficiency of the platform by reducing the load on validators and improve Parahain block time.
- Polkadot recently announced the deployment of a new Parachain in partnership with ParityTech
1/ Last week the Polkadot ecosystem was busy building, deploying, and growing. Check out some of the latest announcements and news from the parachain teams, infrastructure providers, and wallets in this week’s #PolkadotRoundup.
Read the 🧵 below
— Polkadot (@Polkadot) July 26, 2022
- The decentralized hub of Polkadot, Acala Network, recently suffered a hack due to which the native stablecoin de-pegged heavily
We have identified the issue as a misconfiguration of the iBTC/aUSD liquidity pool (which went live earlier today) that resulted in error mints of a significant amount of aUSD
— Acala (@AcalaNetwork) August 14, 2022