Polkadot Price Prediction Analysis! Rise Could Begin from Critical Support!

  • Polkadot (DOT) coin is moving close to the resistance level of $5.25 in its 3-hour technical chart. 3-hour candlestick closures above $5.25 can sustain its rise towards the resistance zone of $5.38.
  • However, if the DOT price makes a permanent closure below the level of $5.25, it can extend its decline towards the support level of $5.09.
  • According to Coinotag analysts, if the DOT price makes 3-hour closures below the level of $5.09, it can continue its downward trend towards the levels of $4.96. However, strong buying reactions in the range of $4.80 – $4.55 can redirect the upward trend towards the level of $5.65.

When examining the technical chart of Polkadot (DOT) coin, it can be seen that the price is moving close to the resistance level of $5.25 and the closures above this level support the upward trend. However, closures below $5.25 indicate the potential strengthening of the downward movement.

Medium-Term DOT Price Analysis

Daily DOT/USD Price Chart
Daily DOT/USD Price Chart

When examining the technical chart of Polkadot (DOT) coin in the daily time frame, it can be seen that the price is moving close to the levels of $4.95. In order for DOT to continue its upward trend, it needs to make daily closures above the level of $5.55. If the DOT price fails to close above the $5.55 resistance level on a daily basis, there is a possibility of continuing the downward movement.

Coinotag analysts expect DOT price to experience a decline towards the support level of $4.95 in the coming days. This situation can offer investment potentials for DOT coin.

If the DOT price makes daily closures below the mentioned level of $4.95, it can extend its downward movement to the range of $4.80 – $4.55. Especially for long-term spot investors, the range of $4.80 – $4.55 appears more attractive. If the DOT price makes daily closures below the level of $4.55 in the coming days, it can continue its decline to this critical support range.

However, if the DOT price encounters strong buying reactions at the levels of $4.80 – $4.55, it can target the level of $5.55 first and then the levels of $6.69, starting the upward trend from this range. Polkadot coin investors should carefully monitor the support range of $4.80 – $4.55 and reconsider their investments in case of closures below the level of $4.55.

Short-Term DOT Price Analysis

3-Hour DOT/USD Price Chart
3-Hour DOT/USD Price Chart

When examining the 3-hour technical chart of Polkadot (DOT) coin, it can be seen that the price is moving close to the nearest resistance level of $5.25. If the DOT price makes 3-hour candlestick closures above the level of $5.25, it has the potential to sustain its rise towards the mentioned resistance zone of $5.38.

However, if the DOT price fails to make a permanent closure above the level of $5.25 on a 3-hour basis, it can extend its downward movement to the blue support line at the levels of $5.09. DOT investors should carefully monitor these two critical support and resistance levels mentioned in the analysis.

Coinotag analysts predict that if the DOT price fails to make 3-hour closures above the level of $5.25, it will carry out its decline towards the level of $5.09. At the same time, if the DOT price makes 3-hour closures below the level of $5.09, it is estimated that it can continue its downward trend towards the levels of $4.96.

However, if the DOT price initiates the upward trend from the levels of $5.09 – $4.96, the target of the rise will be the mentioned level of $5.65 in the analysis. DOT investors should monitor these important support and resistance levels and determine their investment strategies accordingly.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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