Polkadot price prediction: DOT to $10.62 ahead, analyst
3 min readTL;DR Breakdown
- Polkadot price prediction expects a rise above $10.
- Strong resistance lies at the $9.5 mark.
- Strong support lies at the $8.9 mark.
The Polkadot price prediction by Tayez suggests that the crypto asset is going to see an upward breakout above $10 and possibly to $13 soon. Per the analyst, the cryptocurrency will make a price ascension towards $10.62 next. The DOT price varied close to the $9.2 to $9.5 range on the 9th of January.
1-Day Polkadot price analysis
Polkadot has been suffering price fluctuation for the past two days, with steep highs and lows in the $8.8 to $9.8 price range. The cryptocurrency was priced at $9.24 at the time of writing, with a 24-hour high of $9.56 and a low of $9.03. While other altcoins observed major inclines on the 6th and the 7th of January, Polkadot has been relatively less bullish on the charts. The asset did, however, see a continued price ascension during the last week of December 2020.
Across the technicals, we can see that eleven out of twenty-eight of the indicators lie in the buy position, whereas 10 stand neutral and 5 indicate a sell signal. Nine out of eleven oscillators are neutral, 1 is for a buy signal, and 1 shows a sell signal; therefore, the oscillators show an overall neutral positioning for the DOTUSD pair. The moving averages are at a strong buying position, with 10 indicating a buy signal, 1 at neutral, and 4 at a sell signal.
The upper Bollinger band has been ridden by the DOT price from the last week of December, while it began to retrace towards the midline from the 4th of December. This shows that the DOT price has relatively been less bullish over the past few days. The price should see sideways movement between the midline and the upper Bollinger band for the current state.
Polkadot price predictions: What’s next?
The Trading View analyst Tayez drew important trend lines for the DOTUSD pair on the 4h chart in this Polkadot price prediction. Tayez believes that the cryptocurrency is currently testing a falling trend line.
Looking at the chart, the price volatility has decreased by a lot, and so has the trading volume for the pair. This indicates a breakout ahead with the cryptocurrency testing this falling trend line between $9 and $9.5. Tayez expects the cryptocurrency to break towards the upside and rise to the $10.62 mark, likely to go up to $13. The cryptocurrency is supported by a support level that originates in November 2020.
Analyst The Cryer expects the cryptocurrency to rise towards the $14.9 target level. Per their Polkadot price prediction, the current entry-level for this long position lies at $9, and if Bitcoin BTC and the alt market observe a price dip, then the new buy zone will be marked near $8.2. This buy zone could go down to the $7 level if Bitcoin dumps more on its charts. The Cryer places the stop-loss for this setup below the $7 level.
Mystery R’s idea for the DOTUSD pair also suggests an uptrend on the charts, with a breakout of the rising wedge pattern. Per the analyst, the cryptocurrency is set for a bullish breakout by January 21st, and that it will rise towards the $15 mark after breaking above this ascending wedge formation.
