Polkadot (DOT) Price Forecast: Will the Decline Continue?

• When the 4-hour technical chart of Polkadot is examined, it can be seen that it has experienced a decrease of more than 5% in the last 4 hours and retreated to the level of $4.61.
• If the DOT price maintains its stability with candlestick closures above $4.74, it can continue its upward trend.
• However, if the DOT price makes 4-hour candlestick closures below the level of $4.74, the downward trend can continue first to the level of $4.56, and then to the support level of $4.40.

In the last 4-hour technical chart of Polkadot, it is observed that it has experienced a decrease of more than 5% and retreated to the level of $4.61. If the DOT price continues its upward trend with candlestick closures above $4.74, but closures below $4.74 can accelerate the decline.

Medium-Term DOT Analysis

Daily DOT/USD Price Chart

When the current technical chart of Polkadot is examined, it is observed that a decrease occurred to the critical support range of $4.80 – $4.55. As long as the DOT price continues its daily closures above the level of $4.55, it can maintain its upward potential. In this case, starting from the support range, it can move towards $4.95 first, and then to the level of $5.24.

Investors can shape their spot investments by paying attention to daily closures below the support of $4.55. If closures below the level of $4.55 occur, the downward trend can continue until the support of $4.40. However, if the DOT price manages to surpass the resistance of $4.95, it can strengthen the upward trend. In this case, the level of $5.55 can be followed as a target.

Short-Term DOT Price Analysis

When the 4-hour technical chart of Polkadot is examined, it is observed that it has experienced a decrease of more than 5% in the last 4 hours and retreated to the level of $4.61. If the DOT price maintains its stability with candlestick closures above the specified $4.74 level, it can continue its upward trend.

If the DOT price holds above the level of $4.74, its first target can be the level of $5.10. Additionally, with 4-hour candlestick closures above $5.20, a rising movement towards the next targets of $5.33 and $5.48 can occur.

However, if the DOT price makes 4-hour candlestick closures below the level of $4.74, the downward trend can continue first to the level of $4.56, and then to the support level of $4.40. If strong buying reactions come from the range of $4.40 – $4.56, starting from this region, the target of $5.48 can be aimed with an upward movement.