TL;DR Breakdown
- Polkadot price prediction expects to see $10 by tomorrow
- Bullish momentum continues following yesterday BTC correction
- Volatility sky-high following DOT price hike
- DOT price following the BTC price trend closely
- Further corrections expected after a $10 support level is established
Polkadot (DOT) price has seen significant movement over the last two weeks leaping from $5 to just over $10. Following the BTC price correction yesterday, DOT price dipped, but built back up and is now set to see above $10 again within the next couple of days.
DOT price continues to find support levels on it’s rise and, as bullish activity returns, support above $10 continues to become a potential outcome.
At the time writing DOT price currently sits at $9.62 – up almost three percent on the opening price of the day.
Use the oscillator below to check what role DOT might play in your portfolio.
Polkadot price prediction: 1-Day chart overview
The 1-Day chart overview shows a steep bullish climb starting from the end of December 2020 and continuing today despite seeing resistance.
Observing the Historical Volatility (HV) indicator it can be seen that DOT price is steady increasing in volatility as the price increases. This might suggest that this bullish hike may be yet to see a large correction in the coming weeks.
The Relative Strength Index (RSI) indicator shows that DOT is currently overbought and steadily building above the RSI upper boundary. As this level increases, a correction will progressively become more likely.
Polkadot price prediction: 1-Week chart overview
Observing the 1-Week chart overview we can see the clear price spike doubling DOT price within one week on the chart.
Comparing the HV and RSI, the sharp increase in DOT price can be seen reflected in both, but the correction only decreases the RSI. Observing the HV, the correction in price has only plateaued and has yet to begin falling. This indicates that further correction in price may still be on the horizon before the week is out.
Polkadot price prediction: volatility chart overview
Observing the volatility chart overview, DOT price volatility has seen a huge spike since jumping from $5 to above $10 – of which it now settles to around $9.7.
If this volatility is to continue growing, we could expect a sudden fall in price to correct. If such a correction does not come, then we may see a similar bullish run to Bitcoin as it continues back upwards.
Polkadot price prediction conclusion: to rise and find support above $10 by tomorrow
This Polkadot price prediction concludes that DOT price will reach $10 once again and potentially find support there.
As can be seen on the graph above, DOT price follows the BTC price trend closely, and as such, saw it’s own price correction just yesterday. This range is highlighted on the graph by the red line. Supports levels are progressively being found as the price levels rise. These include around $9.2 and $9.4 as DOT price continues the direction beyond $10.
As always, trade safely, carefully, and only trade what you can afford to lose.
