DOT Slides Below $8 Level

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The Polkadot price prediction shows that DOT may find a halt at $9 as the price is down by 2.36% over the last 24 hours.

Polkadot Prediction Statistics Data:

  • Polkadot price now – $7.02
  • Polkadot market cap – $6.9 billion
  • Polkadot circulating supply – 987.5 million
  • Polkadot total supply – 1.1 billion
  • Polkadot Coinmarketcap ranking – #12

DOT/USD Market

Key Levels:

Resistance levels: $10, $11, $12

Support levels: $4, $3, $2

DOT/USD price may drop further lower if the coin finds support at the $6 level. However, during the European session, DOT/USD tried to cross above the 9-day and 21-day moving averages before falling below the $7 level. At the moment, if the bears continue to push the market further lower, immediate support below the $6 level may be located. Beneath this, further supports may be found at $4, $3, and $2 respectively.

Polkadot Price Analysis: DOT Price May Cross to the Downside

As the daily chart reveals, if the buyers can hold the support at $7 and the Polkadot price begins to climb higher, bulls may expect immediate resistance to be located at $8, which is above the 9-day and 21-day moving averages. However, moving a little bit higher may locate the higher resistance levels at $10, $11, and $12. Meanwhile, the technical indicator Relative Strength Index (14) is seen moving below the 50-level, which shows that the market may follow the bearish movement.

DOT/BTC Market: Price Keeps Ranging

Against Bitcoin, the Polkadot is trading below the 9-day and 21-day moving averages. Therefore, in as much as the price actions remain below this barrier, Polkadot may perpetually be under the control of a bear. Meanwhile, traders need more vital and more consistent resistance to keep the price from the bear run.

DOTBTC – Daily Chart

However, with the current movement in the daily chart, if the price crosses above the 9-day and 21-day moving averages, it may likely reach the potential resistance level at 4200 SAT and above. On the contrary, if the market price heads towards the channel’s lower boundary, it may likely hit the critical support at 2700 SAT and below as the technical indicator Relative Strength Index (14) remains below the 50-level.

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