Polkadot is Trading -11.66% Below Our Price Prediction for Jul 25, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Polkadot is up 3.90% today against the US Dollar
• DOT/BTC increased by 2.85% today
• DOT/ETH increased by 3.36% today
• Polkadot is currently trading 11.66% below our prediction on Jul 25, 2023
• Polkadot gained 21.03% in the last month and is down -30.91% since 1 year ago

DOT price is expected to rise by 13.20% in the next 5 days according to our Polkadot price prediction

is trading at $ 5.42 after gaining 3.90% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 4.02% in the same time period. DOT performed well against BTC today and recorded a 2.85% gain against the world’s largest cryptocurrency.

According to our Polkadot price prediction, DOT is expected to reach a price of $ 6.13 by Jul 25, 2023. This would represent a 13.20% price increase for DOT in the next 5 days.

DOT Price Prediction Chart

Buy/Sell Polkadot

What has been going on with Polkadot in the last 30 days

Polkadot has been displaying a positive trend recently, as the coin gained 21.03% in the last 30-days. The medium-term trend for Polkadot has been bearish, with DOT dropping by -11.25% in the last 3 months. The long-term picture for Polkadot has been negative, as DOT is currently displaying a -30.91% 1-year price change. On this day last year, DOT was trading at $ 7.84.

Polkadot reached its all-time high price on Nov 04, 2021, when the price of DOT peaked at $ 54.98. The current DOT cycle high is $ 5.72, while the cycle low is at $ 4.20. DOT has been displaying low volatility recently – the 1-month volatility of the coin is at 4.16. Polkadot recorded 17 green days in the last 30 days.

Polkadot technical analysis for today – Jul 20, 2023

The sentiment in the Polkadot markets is currently Neutral, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 5.15, $ 5.10 and $ 5.04, while $ 5.26, $ 5.31 and $ 5.36 are the key resistance levels.

Neutral sentiment for Polkadot

17 indicators are currently signaling a bullish prediction for Polkadot, while 10 indicators are showing a bearish forecast. With 63% of indicators favoring a positive prediction. This results in an overall Neutral sentiment for Polkadot.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 56 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Polkadot moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Polkadot is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Polkadot is at 49.24, suggesting that DOT is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Polkadot over the last 50 days. Currently, Polkadot is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the DOT closing price for the last 200 days. DOT is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Polkadot prediction

After considering the above factors, we can conclude that the current forecast for Polkadot price prediction is Neutral. DOT would have to increase by 13.20% to hit our $ 6.13 target within the next five days. Moving forward, it will be important to monitor the DOT market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Polkadot price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.