PredictionPrice Analysis

Polkadot (DOT) Price Prediction and Price Analysis 2021

  • Bullish DOT price prediction for 2021 is $30..
  • Moreover, Polkadot’s conservative price prediction for 2021 is $9 – $11.

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 Analysis 2021

The Polkadot platform is a technology that DeFi startup companies can use to create their platform. Recently, the DeFi pulse reached $23.12 billion total value locked (TVL).

Would these events be enough to affect the price of Polkadot this year? Let us find out in this DOT price analysis.

Dot price Prediction 2021
DOT Uptrend Position (Source: TradingView)

Based on the graph above, DOT manages to close 2020 gracefully and enters 2021 in an uptrend position. Also, the graph displays how the crypto boosted its price from $8.15 to $17.56. This crypto price surge has a growth rate level of +115% in just 3 days, a performance favored by investors.

In terms of market position, DOT resides within the bullish territory. Specifically, the market capitalization of the crypto amounts to over $16 billion with an average trading volume of $6.5 billion. For this reason, the crypto maintains its ranking as one of the top 10 cryptos in CoinGecko.

Today, the crypto opens its day with a trading price of $17.56 per crypto. In other words, DOT is in the uptrend position. If this keeps on, the bulls might break their resistance level of  $19.54 and advance beyond $25 – $30. Of course, this is most likely to happen if the bullish market continues to favor the crypto.

Dot Price analysis 2021
DOT Fibonacci Retracement (Source: TradingView)

In terms of Fibonacci indicator, DOT moves above the Fibonacci level of 0.236, a bullish level. Therefore, traders can trade DOT with confidence.

However, if the price of the crypto falls below the Fibonacci level 0.382, traders must trade with caution. In short, DOT may break out from its uptrend position and might experience a price decline.

In this case, the crypto must regain its composure and head back to Fibonacci level 0.236. Otherwise, DOT price might end up in the bear’s territory, a level that could cause FUD among investors.

Polkadot Price Prediction 2021

Polkadot is one of the cryptocurrencies that had a massive development this year. Also, analysts predicted that the crypto might reach $100 with a market capitalization of $100 billion.

Would this be enough to make Polkadot a good investment in 2021? Let us read further in this Polkadot price prediction 2021.

polkadot price prediction 2021

The graph above shows the uptrend position of Polkadot upon entering the year 2021. Today, DOT trades at a high price of almost $20 above the Arnaud Legoux Moving Averages (ALMA).

Most importantly, this performance of the crypto has a growth rate of +240% in the past 30 days. If this aggressive growth rate continues, the DOT price might go beyond $20 and reach the bullish price of $30.

However, if the bulls turn against the crypto, the crypto price might decline. DOT price could plummet for as low as $11.72 with a decline rate of -34% from its current price.

In this case, the crypto must regain its composure and head back above the ALMA indicator. Otherwise, the bearish market can gain a greater advantage against the bullish market. In short, the price of the crypto may nosedive to almost $9, a price not favored by investors.

polkadot price prediction 2021 - 1

On the other hand, the moving average convergence/divergence (MACD) is still moving above the signal. As a result, traders can expect more bullish days ahead.

Meanwhile, the relative strength index (RSI) of the crypto is already at level 85. In other words, the crypto is already in an oversold state. Consequently, traders especially swing and day traders, should trade with caution because anytime DOT might trigger an extreme price reversal.

In conclusion, the bullish DOT price prediction for 2021 is $30. Specifically, this bullish price of $30 is most likely to hit in the first quarter of 2021. Moreover, DOT conservative price prediction in 2021 is $9 – $11.

FAQ

What is Polkadot?

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.

Where can you buy Polkadot?

Polkadot currently trades at exchanges such as Binance, Huobi Global, and Okex to name some.

What happened to Polkadot?

Recently, Polkadot partnered with the exchange giant, Binance. As a result. Binance released a $10 million support to support Polkadot on its project development.

 

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.

Jay Manila

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.

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