Polkadot is Predicted to Drop to $ 8.06 By Nov 28, 2024

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 34.52% today against the US Dollar
• DOT/BTC increased by 36.41% today
• DOT/ETH increased by 30.20% today
• Polkadot is currently trading 5.75% above our prediction on Nov 28, 2024
• Polkadot gained 103.23% in the last month and is up 61.94% since 1 year ago

DOT price is expected to drop by -8.53% in the next 5 days according to our Polkadot price prediction

Polkadot price today is trading at $ 8.52 after gaining 34.52% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 37.21% in the same time period. DOT performed well against BTC today and recorded a 36.41% gain against the world’s largest cryptocurrency.

According to our Polkadot price prediction, DOT is expected to reach a price of $ 8.06 by Nov 28, 2024. This would represent a -8.53% price decrease 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 103.23% in the last 30-days. The medium-term trend for Polkadot has been bullish, with DOT increasing by 74.85% in the last 3 months. The long-term picture for Polkadot has been positive, as DOT is currently displaying a 61.94% 1-year price change. On this day last year, DOT was trading at $ 5.26.

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 $ 11.86, while the cycle low is at $ 3.59. DOT has been displaying high volatility recently – the 1-month volatility of the coin is at 16.05. Polkadot recorded 16 green days in the last 30 days.

Polkadot technical analysis for today – Nov 23, 2024

The sentiment in the Polkadot markets is currently Bullish, and the Fear & Greed index is reading Extreme Greed. The most important support levels to watch are $ 6.15, $ 5.64 and $ 5.38, while $ 6.92, $ 7.17 and $ 7.68 are the key resistance levels.

Bullish sentiment for Polkadot

29 indicators are currently signaling a bullish prediction for Polkadot, while 2 indicators are showing a bearish forecast. With 94% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Polkadot.

Crypto market is currently experiencing Extreme Greed

Currently, the Fear & Greed index is at 93 (Extreme 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 71.00, suggesting that DOT is currently overbought.

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 below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Polkadot prediction

After considering the above factors, we can conclude that the current forecast for Polkadot price prediction is Bullish. DOT would have to decrease by -8.53% to hit our $ 8.06 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.

Source: https://coincodex.com/article/54777/polkadot-prediction-november-23-2024/