Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Polkadot Forum => Topic started by: Coin_Gabbar on September 03, 2022, 12:38:46 PM
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On a daily basis shows that the market is currently in a significant bearish trend, as the price has covered a downward movement in the last 24 hours.
In the short term, market conditions for DOT/USD remain bearish, but a break out of the current consolidation zone might see the market move towards the $6.00 level in the near future.
According to Polkadot price analysis, the price has dropped slightly again today as the bears gained control of the market. After three days of continuous bullish activity, the price function has been imbalanced again, and the price has dropped to $7.17. After making a comeback and a price ratio difference, the bears are now maintaining their lead. If the bearish pressure continues, the cryptocurrency may suffer additional losses in the next hours. On the other side, as we saw yesterday, there is a strong possibility of a bullish trend reversal.
Polkadot price analysis 4-hour price chart reveals a massive drop in price in the previous few hours. The price has dropped to $7.17 due to a strong bearish wave in the last few hours. However, this rapid correction seems to be a bearish reaction to the bullish side's sudden spike to $7.54.
If the price of DOT rises more, it may reach the $7.80 resistance level. If the price can hold and close over $7.80, it could shortly hit $8.50-$9.80.
On the downside, a first level of support is at $6.80. The next main level of support is around $6.00. A break below the $6.00 support level might trigger a sudden decline. In the situation described above, the price might decrease as low as $4.50.
KEY LEVELS :
RESISTANCE LEVEL : $7.70-$8.50
SUPPORT LEVEL : $6.50-$6.00
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On a daily basis shows that the market is currently in a significant bearish trend, as the price has covered a downward movement in the last 24 hours.
Hi mate,
If you were more consistent in updating the price of Polkadot coins every day, maybe it would be more useful for altcoinstalks forum users.
But in fact, this thread hasn't been replied to for too long by you and this makes me motivate you to continue joining the altcoinstalks forum because I'm sure you can do it.
Polkadot is a very complex coin created by Gavin Wood with a very solid and complex Parachain system and it took me a long time to study this Polkadot coin to be able to understand a little how it works.
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As a long-term investor, I don't care about tomorrow's DOT price, I care about DOT price in the next 2 years, that is, the end of 2025, where the peak of the next cycle is expected to take place. I wouldn't be surprised if DOT hits 200 USD in 2025 as most blockchains use Polkadot's parachain to interact with each other seamlessly.
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Today, Bitcoin dumped very bad right after a news was published that SEC are going to reject ETF proposals. Even though nothing is final yet, people started panic selling which led us more than 10 % down on Bitcoin and alts were bleeding for a while. Some coins lost 25% value in the last two-three hours. Dot is not out of the group. So, If you were waiting to buy Dot a cheap price, this could be perfect opportunity for everyone who have some stable coins in hand and had a plan to invest in Polkadot.
There another speculation going on at this moment. If SEC rejects the ETF proposals, then Bitcoin may fall down to 36K range. If it happens, then you may see Dot at $5 range again and that will be another buying opportunity. keep your eyes on it.