American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

Polkadot price prediction as DOT charts send mixed signals

by admin February 12, 2025
February 12, 2025
Polkadot price prediction as DOT charts send mixed signals

Polkadot price has crashed and formed a highly bearish pattern, pointing to more downside in the near term. DOT token has crashed by almost 60% from its highest swing in November last year. It is loitering near the lowest swing since November last year. So, what next for the Polkadot coin?

Polkadot price analysis: death cross pattern forms

The daily chart reveals that the Polkadot price peaked at $11.65 in December last year as most altcoins soared. It then slumped, and recently, formed a death cross pattern as the 50-day and 200-day Exponential Moving Averages (EMA) crossed each other. A death cross is often seen as the most bearish chart pattern in the market. 

Polkadot price has also formed a bearish flag chart pattern. This pattern usually forms after an asset dives, and is characterized by a long vertical line and some consolidation. 

Most notably, the token is nearing the key support level at $3.70, its lowest swing in August, September, and November last year. Therefore, a drop below that price will be a victory to DOT bears as it will point to more downside in the near term. More downside may see it crash to the next key support level at $3.00.

On the flip side, a move above the resistance level at $6 will point to more gains ahead. This is a crucial level since it is along the 50 and 200-week Exponential Moving Average levels. A rebound above that price will boost the chance that Polkadot will bounce back to $11.6.

DOT price is in an accumulation phase

The weekly chart reveals that the DOT price has remained in a tight range in the past three years. It has remained between the key support at $3.70 and the resistance level at $11.65. It has constantly failed to break above these levels.

For example, the Polkadot price failed to climb above that resistance in April and December last year. This prolonged consolidation could be a sign that the coin is in an accumulation phase of the Wyckoff Method.

The Wyckoff Theory suggests that an asset goes through four key stages: accumulation, markup, distribution, and markup. A strong rebound above the key resistance at $11.65 will point to more gains as it will signal that it has entered the markup phase. 

If this happens, the next level to watch will be at $30, the 50% retracement level that is about 510% above the current level.

A drop below the support at $3.70 will be a sign that bears have prevailed and that it will continue falling. It will invalidate the Wyckoff Theory.

DOT chart by TradingView

Polkadot catalysts

Polkadot price has several catalysts that may push its price higher in the coming months. The most notable of this catalyst is the Polkadot 2.0 update that introduced new features like async backing, agile coretime, and elastic scaling.

Async baking reduced block times from 12 seconds to 6 seconds, while agile coretime allows dynamic core allocation for shorter durations through on-chain purchases. Elastic scaling enables projects to lease additional cores as needed.

These features, together with the JAM upgrade will make Polkadot a real alternative to other layer-1 networks like Solana and Ethereum.

The other potential catalysts for the Polkadot price will be the potential ETF approval by the Securities and Exchange Commission (SEC). While no DOT ETF has been applied so far, there is a likelihood that firms will apply for it. Besides, it is one of the biggest Made in USA coins in the crypto industry.

The post Polkadot price prediction as DOT charts send mixed signals appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Pi Network price prediction 2025 – 2030 after the mainnet launch
next post
Top 4 crypto price predictions: BNB, Hedera HBAR, Jupiter, Berachain

Related Posts

Option to Acquire Baga Gold Project, Cote d’Ivoire

June 28, 2024

Australian Vanadium

February 3, 2024

Top 5 Gold Stocks on the TSX in...

April 11, 2024

EasyJet share price analysis: buy, sell, or hold?

October 15, 2024

Forward Water Technologies Announces Commercial Update

June 1, 2024

Appia Rare Earths and Uranium Corp. to Present...

May 18, 2024

More High Grade with up to 60% Heavy...

June 28, 2024

Red alert: Axon stock price has formed a...

May 13, 2025

CAC 40 index hits key price as LVMH,...

September 27, 2024

Silver price chart showing mixed signals: $32.7 level...

September 30, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • GMS stock jumps 29% on takeover interest from Home Depot, QXO, analysts raise PTs

      June 22, 2025
    • Japan’s rice price surge: what’s driving it and why it could spark a political crisis

      June 22, 2025
    • BofA raises STOXX 600 target amid resilient global growth, warns on Mideast risks

      June 22, 2025
    • Palantir co-founder: US must prevent Iranian nukes

      June 22, 2025
    • Fed governor Waller advocates for July rate cut amid tariff, labor market outlook

      June 21, 2025

    Categories

    • Business (3,209)
    • Investing (2,537)
    • Latest News (2,000)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved