The Polkadot price prediction may locate a halt at $7.0 as the price has been hovering below $7.5 over the last 24 hours.
Polkadot Prediction Statistics Data:
Polkadot price now – $7.31
Polkadot market cap – $8.1 billion
Polkadot circulating supply – 1.1 billion
Polkadot total supply – 1.2 billion
Polkadot Coinmarketcap ranking – #11
Resistance levels: $9.5, $10.5, $11.5
Support levels: $6.0, $5.0, $4.0
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DOT/USD price may drop lower if the coin finds support at the $7 level. However, during the European session, the crypto tried to cross above the 9-day and 21-day moving averages before falling back below the $7.31 level. At the moment, if the bears continue to push the market further lower, immediate support below the $7.0 level may be located. Beneath this, further supports may be found at $6.0, $5.0, and $4.0 respectively.
DOT Price May Head to the Downside as TAMA Goes Bullishly
As the daily chart reveals, if the buyers can hold the support at $7.25 and the Polkadot price begins to climb higher, bulls may expect immediate resistance to be located at $8.0, which is above the 9-day and 21-day moving averages. However, moving a little bit higher above the upper boundary of the channel may locate the higher resistance levels at $9.5, $10.5, and $11.5. Meanwhile, the technical indicator Relative Strength Index (14) is seen ranging below the 50-level, which shows that the market may follow the sideways movement.
Against Bitcoin, the Polkadot is trading above the 9-day and 21-day moving averages. Therefore, in as much as the price actions remain above this barrier, Polkadot may perpetually go bullish. Meanwhile, traders need more strong 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 stays above the 9-day and 21-day moving averages, it may likely cross above the upper boundary of the channel to reach the potential resistance level at 4200 SAT and above. On the contrary, if the market price heads toward the lower boundary of the channel, it may hit the critical support at 3200 SAT and below as the technical indicator Relative Strength Index (14) remains below the 60-level.
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Capped Supply of 2 Bn, Token Burn
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