DOT Stays Below $8 Level

The Polkadot price prediction shows that DOT may find a halt at $5 as the price is down by 4.67% over the last 24 hours.

Polkadot Prediction Statistics Data:

• Polkadot price now – $6.73
• Polkadot market cap – $6.6 billion
• Polkadot circulating supply – 987.5 million
• Polkadot total supply – 1.1 billion
• Polkadot Coinmarketcap ranking – #12

DOT/USD Market

Key Levels:

Resistance levels: $11, $12, $13

Support levels: $4, $3, $2

DOT/USD price may continue to drop lower if the coin finds support at the $6 level. During the European session, DOT/USD failed to cross above the 9-day and 21-day moving averages as the coin falls back below the $7 level. At the moment, if the bears push the market further lower, the immediate support below the $6 level may be located. Beneath this, further supports could be found at $4, $3, and $2 respectively.

Polkadot Price Analysis: DOT Price Heads to the Downside

If the buyers can hold the support at $6.5 and the Polkadot price begins to climb higher, bulls may expect immediate resistance to be located at $10, which is above the upper boundary of the channel. However, moving a little bit higher may locate the higher resistance levels at $11, $12, and $13. Meanwhile, the technical indicator Relative Strength Index (14) is seen moving below the 40-level, which shows that the market may follow the bearish movement.

DOT/BTC Market: Price Moves to the Downside

Against Bitcoin, the Polkadot is trading below the 9-day and 21-day moving averages. Therefore, in as much as the price actions remain below this barrier, Polkadot may perpetually be under the control of a bear. Meanwhile, traders need more strong and more consistent resistance to keep the price from the bear run.

However, with the current movement in the daily chart, if the price crosses above the upper boundary of the channel, it may likely reach the potential resistance level at 4500 SAT and above. On the contrary, if the market price heads toward the lower boundary of the channel, it could hit the critical support at 2500 SAT and below as the technical indicator Relative Strength Index (14) crosses below the 50-level.

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