Polkadot (DOT) Crypto Price Prediction Whisper This Week Has Huge Price Moves

Polkadot price is trading under selling pressure below the trendline.
Recently DOT crypto formed a new annual low of $5.68 on 13 October.
Buyers try to recover lost costs in an hourly time frame.

Amid weak cryptocurrency market sentiment, most cryptocurrencies are losing their fees. There has been some recovery but still bulls are expecting more than now. In this assumption, traders have trouble deciding a directional approach. Thus Polkadot buyers also saw the latest annual low of $5.68 on October 13th.

By the way, the price of Polkadot (DOT) crypto is trading under selling pressure so far. The price structure shows either weekly or below low-high patterns in each time frame. Buyers are getting high price rejections since their all-time high and each price hike was the prime reason for the dramatic drop.

In the 4 hours chart, the Polkadot price is looking below the resistance trendline and above the ascending trendline. Gradually, trading range is getting narrow and huge price momentum is likely ahead either upside or downside. However, recently buyers saw fresh annual low, so at this point, buyers have an opportunity to break this resistance trendline and move asset prices higher.

Amid low volatility, the Polkadot (DOT) crypto price is trading at $6.17 mark at the time of writing. DOT price is bearish in intraday trading session by 0.16% so far. Moreover, the polkadot price concerning the bitcoin pair is trading slightly negative by 0.6% at 0.0003201 satoshis. Buyers try to recover losing cost in hourly time frames.

RSI Struggle Below 50 Mark

After seeing the fresh annual low at $5.68 mark, DOT bulls flipped this level as an immediate support level. In contrast, the DOT price often fell close to $6.5 mark, remaining as an upcoming bullish hurdle. The RSI and MACD indicators are still showing weakness in DOT coin in the context of daily time frame.

Conclusion

The Polkadot (DOT) crypto price prediction suggests the massive move which is about to occur. Although the trading range is looking sideways and buyers have an opportunity to break this resistance trendline and move asset price higher until it hits $6.5 resistance.

Resistance level- $6.5 and $8.0

Support level- $6.0 and $5.6

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.