- Polkadot’s conservative price prediction for 2021 is $26.
- Bullish DOT price prediction for 2021 is $70 – $100.
- Bullish DOT price prediction for March-August is up to $50.
This Polkadot Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our DOT price analysis and prediction.
Polkadot (DOT) is at its peak lately in terms of developments. DOT is one of the top 10 cryptocurrencies on CoinGecko, with a market capitalization of almost $4 billion. Hence, this makes DOT one of the most potentially-profitable crypto today.
Recently, Polkadot partnered with the Ontology network, a platform that focuses on digital identity and data. As a result, this will increase the trust level of users in both ecosystems. It also provides an in-depth understanding of the benefits of digital identity and privacy of the DeFi projects.
Could these developments make Polkadot a profitable investment in 2021? Let us find out in this CoinQuora Polkadot Market Analysis and Polkadot Price Prediction 2021.
Polkadot (DOT) Price Prediction (March – Aug 2021)
The Polkadot platform is a technology that DeFi startup companies can use to create their platform. Recently, the DeFi pulse reached $43.52 billion total value locked (TVL). This is an indication that more investors still believe in the potential of the DeFi space.
Would these events be enough to affect the price of Polkadot today? Let us find out.
As seen on the chart above, Polkadot managed to recover from its price fall upon entering the month of March. It has achieved a growth rate of 157.61%% from its bearish dip amounting to $16.24 last February 2. If this goes on, the crypto might be able to break its $42.57 resistance level and go all the way to touching the bullish price of $50 on or before August 2021.
However, if DOT fails to keep its price above the ALMA indicator, the crypto price might fall. It may decline as low as $31.3 and even go deeper below its support level of $26.37. In this case, the bulls must find a way to recover and get back to their bullish position before the bears overwhelm them entirely.
Meanwhile, the relative strength index (RSI) of the crypto is already at its 51.58 level. This level of the crypto indicates that the crypto is neither oversold nor overbought. It also shows that the crypto price has weakened and might fall even further.
Polkadot Price Prediction 2021
Would this be enough to make Polkadot a good investment in 2021? Let us read further in this Polkadot price prediction 2021.
Based on the chart above, the crypto has shown a great performance in recovering from its bearish dip price of $22.4 last February 22. In the same month, DOT reached a bullish price of $43.8, with a growth rate of almost 89.5% over the previous seven days.
If this uptrend continues, the crypto might have the chance to break its Fibonacci level of 0.236 and go join the bulls in hitting the $50 mark. It might meet $70 in the third quarter and continue to reach $100 before 2021 ends. Of course, this is possible if the market remains in favor of the crypto.
However, if the market turns against the crypto, DOT may experience an unexpected price fall below its Fibonacci support level of 0.618. The bulls must find a way to end this downfall quickly and climb back to its uptrend position. Otherwise, the bears might have the chance of turning the support level into its new resistance level, which is not a good sign.
On the other hand, the moving average convergence/divergence (MACD) of the crypto still remains under the signal indicator. This is a sign that DOT is still moving in a bearish direction. Moreover, Polkadot’s conservative price prediction in 2021 is $26. Meanwhile, the bullish Polkadot price prediction 2021 is from $70 to $100. This will only be the case if the investors and the crypto market continue to support the crypto.
Polkadot unites a network of heterogeneous blockchains called parachains and parathreads. As a result, DOT can transfer data across public, open and permissioned blockchain networks.
Polkadot currently trades at exchanges such as Binance, Huobi Global, and Okex to name some.
Recently, Polkadot partnered with the exchange giant, Binance. As a result. Binance released a $10 million support to support Polkadot on its project development.
Yes as per the current market scenario, it is possible.
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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.