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Polkadot

Polkadot Price Forecast: DOT primed to rally 30% after collecting liquidity

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  • Polkadot price looks ready for a bounce as it dips into a demand zone, stretching from $18.46 to $21.73.
  • The MRI’s buy signal adds credence to the bullish hypothesis.
  • A potential spike in buying pressure could propel DOT up by 30% to $28.96.

Polkadot price suffered a fatal drop like most altcoins during the market crash on May 19 and 23. However, unlike most cryptocurrencies, DOT seems to have spawned a confluence of buy signals that suggest a bullish phase will arrive shortly.

Polkadot price strengthens its upswing narrative

Polkadot price is currently trading at $22.41, just above the demand zone scales from $18.46 to $21.73. The recent dip into this area is likely to have provided DOT with buying pressure from sidelined investors. Therefore, Polkadot price is preparing for a move higher.

Adding a tailwind to this directional move is the Momentum Reversal Indicator (MRI), which flashed a buy signal in the form of a green ‘one’ candlestick on the daily chart.

This setup forecasts a one-to-four candlestick uptick in Polkdaot price. Therefore, a decisive daily candlestick close above the 200-day Simple Moving Average (SMA) at $23.03 will confirm this optimistic scenario.

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In such a case, the DeFi coin could rally 15% to tag the immediate resistance level at $26.50. Following a breach of this level, $28.96 will be tested, roughly 30% from the current position at $22.41.

Furthermore, if DOT manages to rise above $32.20, the SuperTrend indicator would trigger a buy signal, indicating a shift in trend from bearish to bullish.

DOT/USDT 1-day chart

DOT/USDT 1-day chart

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On the flip side, if the correction into the demand zone, ranging from $18.46 to $21.73, extends below the lower limit and generates a daily close below it, the bullish narrative explained above will face invalidation.

These developments might further push Polkadot price nearly 20% to retest $14.71.

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Polkadot

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

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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

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

Polkadot (DOT) Price Ready To Ignite, Aims 67% Upswing By End Of October 2021

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The crypto space is slowly on the verge to become the fastest growing and flourishing space as the market cap is heading towards $3 trillion at lighting speed. Bitcoin price and Ethereum price are heading towards their respective highs yet again gearing up other altcoins. And hence Polkadot (DOT) price following the trend may also gear up substantially. 

The price since the start of October 2021, maintained a considerable uptrend within a pattern. The asset was maintaining a silent trend with small dumps yet considerable large pumps until huge liquidity propelled the price from $34 to $42 a couple of days before. Since then DOT price repeated the same pattern in order to march towards its ATH.

polkadotchart
Source: Tradingview

As mentioned before, the price repeatedly formed a bull flag a couple of times and successfully ranged high. The asset has formed a similar pattern yet another time and could range above $50 with a successful breakout. Interestingly, the asset discovered a new support zone around $40 and bounced each time it visited these zones. 

However, the Polkadot price is on the verge to form yet another bull flag pattern for the third time in a row. And a breakout from these levels may lead the DOT price to trade within the discovery phase soon

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