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Polkadot (DOT) Price Prediction and Analysis in March 2021

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This Polkadot price prediction and analysis focuses on past price analysis of the coin, its developments, and market opinions for March 2021.

DOT is ranked #6 on CoinMarketCap, with a trading volume of $2,359,369,829, according to CMC figures. Currently, it has a market cap of $32,514,459,243 and a circulating supply of 919,048,563 DOT.

Polkadot has no maximum supply. Users can trade the coin in various mainstream exchanges, including Binance, Huobi Global, HBTC, BitZ, OKEx, and BiKi. Importantly, Polkadot is a unique crypto, based on its sharded multichain network. It can process several transactions on many chains in parallel processing.

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Polkadot Price Prediction: Analysis

Recently, DOT price has been on an upward trend. The coin displaced XRP as the sixth-largest digital currency, according to CMC figures. On February 20, DOT reached its all-time high of $42.22.

However, since February 22, Polkadot’s price has dipped from $39.64 to $31.21 on March 4. During that period, the cryptocurrency recorded a drop of more than 21%. All the same, the coin managed to rise by more than 18% in one week between February 28 and March 4, pushing the price to above $36.

Polkadot saw $7 million inflows in the last week of February. Together with other leading crypto pairs, the coin has registered a significant improvement in its DOT/USD price.

polkadot price

The following are key support and resistance levels to keep your eyes on if you’re trading Polkadot, as calculated by Walletinvestor:

  • Resistance Level (R3): 39.872;
  • Resistance Level (R2): 38.904;
  • Resistance Level (R1): 37.893;
  • Pivot Point: 36.925;
  • Support Level (S1): 35.914;
  • Support Level (S2): 34.946;
  • Support Level (S3): 33.935.

Developments

The Polkadot platform has witnessed a handful of developments recently. In the past week alone, the launch of parachains on the Polkadot project attracted IoT services. Once launched in the first quarter of 2021, this project will allow developers to explore the benefits arising from scalable multichain architecture.

At the same time, Parity Technologies is mulling the possibility of developing and proposing generic assets parachain known as Statemint on Polkadot. This development is one of the common-good chains that will allow on-chain governance of the two companies to grant parachain slots by referendum.

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Common-good parachains offer core functionality that is vulnerable to the free-rider problem if left to the auction market forces. The new parachain aims to provide functionality for deploying assets in the Polkadot network to give users a better experience with lower fees.

Polkadot Price Prediction: Market Opinions

The following are the Polkadot price forecasts for March and beyond, as calculated by some of the most popular cryptocurrency price prediction sites.

Walletinvestor

Walletinvestor’s Polkadot price prediction is that it will rise from 36.286 USD to 89.923 USD this year. In the long-term, the DOT has earning potential of +147.82 in one year. Below is the DOT price prediction for the next two weeks of march 2021:

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Date Price Min Price Max Price
2021-03-13  39.168  35.944  42.414
2021-03-14  38.765  35.643  42.008
2021-03-15  38.690  35.463  41.955
2021-03-16  39.285  35.916  42.441
2021-03-17  40.725  37.505  43.716
2021-03-18  39.051  35.658  42.234
2021-03-19  38.367  35.330  41.492
2021-03-20  41.197  37.811  44.379
2021-03-21  40.794  37.723  44.018
2021-03-22  40.720  37.499  44.047
2021-03-23  41.314  38.126  44.606
2021-03-24  42.754  39.424  45.853
2021-03-25  41.081  37.909  44.519
2021-03-26  40.396  37.453  43.673

Tradingbeasts

According to the Tradingbeasts, Polkadot’s price is expected to hit $31.598 by the beginning of next month (April 2021). The expected maximum price is $41.082, while the minimum price is $27.936. Polkadot may close this month at $32.866.

Gov.capital

Gov.capital‘s price forecast is very optimistic, as it predicts that DOT will see significant gains, as shown in the chart below:

Conclusion

Considering its past and present performance, we can conclude that Polkadot is a good portfolio for crypto investment. However, investors need to be aware that while the bulls may be currently in charge of the market, they should not underestimate the power of the bears.

From the crypto market performances witnessed on February 2 and February 3, it can be seen that the bears are busy at work. At any time, they can suppress the crypto prices pushed up by the bulls. Cryptocurrency is a highly volatile market, and investors should only commit what they can afford to lose.

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Otherwise, it’s an equally lucrative industry with high gains within the shortest time possible – sometimes within less than 24 hours. Even if this Polkadot price prediction is not equal to investment advice, it can help you make an informed decision.

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Polkadot price analysis: Bullish momentum faces break down at $43.6 level

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  • Price has receded down to $43.64.
  • Polkadot price analysis confirms bearish return.
  • Support is rigidly standing at $30.19.

The price is going down once again as the latest Polkadot price analysis is confirming the bearish comeback. The price has undergone a decline during the last 24-hours, as the bears interrupted the bullish current by bringing the price down. The price is now following bearish movement momentarily and has moved down to the $43.64 level in the last 24-hours. The bearish momentum has been trending in the last four hours as well.

DOT/USD 1-day price chart: Bears drag price down to $43.64 level after gaining strength

The bears are striving for reestablishing their position on the price chart as can be observed from the one-day Polkadot price analysis. Today, a bearish price movement has been observed as the DOT/USD price devalued to $44. Although the bulls have been reigning on the whole, the price has decreased during the day because of bearish momentum. The moving average (MA) for the day is standing at the $42.73 level.

Polkadot price analysis: Bullish momentum faces break down at $43.6 level 1

The volatility has been decreasing which is why the Bollinger band average is now at $39.06. Whereas the upper Bollinger band value is at $47.93 for now whereas the lower Bollinger band value is at the $30.19 position. The Relative Strength Index (RSI) score is yet to reach 70 and is still standing at 64.66.

Polkadot price analysis: Price decrements to $44 as downward trend continues

The four hours Polkadot price analysis shows that the bears have been at lead for the past few hours. The price has been falling down quite consistently with a few bullish price movements recorded here and there. The price has undergone a decline in the last hours as well and is now settled on the $43.64 mark. The moving average, on the other hand, is dictating its value at the $43.94 position.

Polkadot price analysis: Bullish momentum faces break down at $43.6 level 2
DOT/USD 4-hours price chart. Source: TradingView

A crossover between SMA 50 curve and the SMA 20 curve was recorded earlier, which is another confirmation of a downtrend. The Bollinger bands indicator is showing the following values in the four hours price chart; the upper value is $45.59 whereas the lower value is $42.3. The RSI score is at a quite average position and is at 51.22.

Polkadot price analysis: Bullish momentum faces break down at $43.6 level 3
DOT/USD technical indicators chart. Source: TradingView

The overview of cryptocurrency progress shows promising results which is why the technical indicators chart for DOT/USD is going bullish. There are 15 indicators settled on the buying mark, nine indicators on the neutral mark, and two indicators on the selling mark.

The moving averages indicator is displaying favorable results for the buyers as well as it is giving a strong buy signal for the day. A total of 13 indicators are there on the buying position while one indicator each is sitting on the selling and neutral positions. The Oscillators, on the other hand, are showing neutrality with eight oscillators at the neutral position, two oscillators at buying position, and one oscillator at the selling position.

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Polkadot price analysis conclusion

The one-day, as well as the four hours Polkadot price analysis, is showing slightly unfavorable results for the cryptocurrency. That is because the price has covered downward movement during the day and has undergone a decline up to the $43.6 level. It can be expected that the price will go down even further as the bears have been dominating for the last four hours as well.

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This Is How Polkadot(DOT) Price May React After Hitting $50!

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The crypto space is consolidating heavily for the consecutive second day showcasing a bearish trend. Most of the major assets are forming constant lower lows after a steep plunge. However, some altcoins like Polkadot is undergoing a reverse trend and attempting to reach the current highs. As the DOT price ranges above $50, the path towards a three-digit figure may get feasible. 

After the recent reversal, the asset managed to trend within a rising wedge since the beginning of the current trading month. Initially, the asset hit the strong resistance levels at $38 and successfully sliced through these levels after a slight pullback. However, the price is currently an inch close to forming a new ATH.

dotprice
Source: Tradingview

Despite the price is surging and forming more higher highs, yet the fear of a bearish divergence still hovers the rally. The appears to be trending within a rising wedge which usually ends up in a slight pullback. The correction could either end with a notable rebound from the immediate trend line, else it could hit the strong support levels at $40. 

However, the Polkadot price tends to reverse the trend in order to flip the bearish divergence soon. One of the popular analysts, FieryTrading, DOT price after forming a new ATH may not stop surging. The price currently resides at 1 Fib level and 2 Fib levels from beyond $100 at $120. And hence the target for Q4 maybe somewhere around $100.

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Polkadot

This Is How Polkadot(DOT) Price May React After Hitting $50!

Published

on

The crypto space is consolidating heavily for the consecutive second day showcasing a bearish trend. Most of the major assets are forming constant lower lows after a steep plunge. However, some altcoins like Polkadot is undergoing a reverse trend and attempting to reach the current highs. As the DOT price ranges above $50, the path towards a three-digit figure may get feasible. 

After the recent reversal, the asset managed to trend within a rising wedge since the beginning of the current trading month. Initially, the asset hit the strong resistance levels at $38 and successfully sliced through these levels after a slight pullback. However, the price is currently an inch close to forming a new ATH.

dotprice

Despite the price is surging and forming more higher highs, yet the fear of a bearish divergence still hovers the rally. The appears to be trending within a rising wedge which usually ends up in a slight pullback. The correction could either end with a notable rebound from the immediate trend line, else it could hit the strong support levels at $40. 

However, the Polkadot price tends to reverse the trend in order to flip the bearish divergence soon. One of the popular analysts, FieryTrading, DOT price after forming a new ATH may not stop surging. The price currently resides at 1 Fib level and 2 Fib levels from beyond $100 at $120. And hence the target for Q4 maybe somewhere around $100.

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