Polkadot, the world’s first parachain is an absolute game-changer in the blockchain space. Despite all its potential, it has been steadily depreciating in the market.”The price goes up and it stays up!”, that’s the mantra of the bullish cryptocurrency market. And with all this talk of prices going up, why not speculate what will happen to the sky-high price of Polkadot (DOT)?
More highs ahead for DOT?
The Polkadot cost prediction for December 16, 2021, reveals us that the underdog of the cryptocurrency has been complying with a stable downwards trend in the previous few days; However, the cost went as far as $30 on December 12, 2021, as well as it has been gradually decreasing ever since. The price of Polkadot on December 16, 2021, is $27.69.
DOT/USD 4-hour chart: Steady after continuous volatility.
The Polkadot cost forecast for the 4-hour price chart indicates that the market’s volatility goes to a standstill, with the ceiling of the Bollinger’s band at $29.6 being its resistance. The reduced limit of the Bollinger’s band rests at $26 is the assistance.
The DOT/USD price appeared to be moving over the Relocating Ordinary contour showing a bullish activity, right before it shifted the trend and the DOT/USD price went below the Relocating Average curve showing the bearish pattern.
The Polkadot rate prediction defines that The Family member Toughness Index is 46. This suggests that the underdog cryptocurrency reveals no indicators of decline or over-selling. The marketplace’s volatility doesn’t seem to be lowering or increasing. The RSI indicates that the possessions are neither extreme; this might be a sign of stability for The Polkadot cryptocurrency.
Polkadot 1-day cost prediction: DOT/USD dealing with solid resistance
The Polkadot rate prediction of the 1-day chart shows that the market’s already massive volatility is lowering at a ponderous price because of the solid resistance. The upper limit of the Bollinger’s band is $41, which is the best resistance. The lower limit of the Bollinger’s band is $23, which is the toughest support. The DOT/USD cost seems moving below the Moving Average contour, suggesting a bearish fad.
By observing the Polkadot Rate forecast for eventually, we have deduced that the Family member Stamina Index is 35, which is an indication that the possessions are being decreased the value of. The bears are presently controlling the marketplace by a long odds. The bulls are striving to obtain the cost back up, but the bears are not losing that rapidly. The fight in between the two is intense, as well as the bears have the upper hand in the meantime.
Polkadot cost forecast final thought: Bears placed stress near $28.
The conclusion of the Polkadot prices forecast reveals that the monitorings made on the present habits of the cryptocurrency underdog reveal that it is following a trend of decrease. DOT/USD cost struggles at the $30 mark; the price got to $30 on December 12, 2021.
Chart analysis shows solid bearish attributes. It is forecasted that Polkadot may be further decreased if the bears remain to control the marketplace, which is the most likely scenario.
Read More： More highs ahead for DOT?（Analyst predicts the exact bottom for Polkadot price, ahead of parachain launch event ）
A closely followed crypto strategist is predicting epic rallies for Polkadot (DOT) in 2022 while expecting a sharp recovery for Bitcoin (BTC).
Pseudonymous trader Capo tells his 220,800 Twitter followers that he sees interoperable blockchain Polkadot surging by as much as 2,471% from its current price of $26.25 by May next year.
Cryptocurrency analysts at the YouTube channel “The Art of Crypto” evaluated the Polkadot price trend and predicted the exact bottom for the altcoin. The analyst has used the weekly “order block,” a forex strategy where the market behavior indicates order collection from financial institutions and banks, to predict Bitcoin and Ethereum bottom.
The pseudonymous analyst believes that Polkadot could hit its exact bottom in the order block from $17.7 to $11.45. The analyst says,
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