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Popular Analyst Predicts Huge Polkadot Bull Run! DOT Price Poised to Hit $100

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    Analysts believe the price may rally 10 times more than the current price to hit $100 soon.

Dot Price to Hit More Than $40 in a Month

Polkadot price is showcasing a comparatively powerful performance than Bitcoin after it launched it’s own parachain. Having a strong fundamentals and the protocol being sophisticated, the DOT price is expected to touch $43 by the end of January 2021 as predicted by analysts, ich1baN.

However, the Polkadot price rally is expected to hit new highs in 2021, marking a profit gain of more than 10 times. One of the popular analysts,Mr Business, believes DOT price may hit $100 as the marginal cost(MC) which  is the initial expenditure to set up a new cryptocurrency, of DOT is 12 times more than that of Ethereum. And if Ethereum is poised to hit $10000 in 2021, then Polkadot may also hit $100.

Moreover many other analysts also have set their DOT price target at $100, and in fact some believe DOT price may hit $500 also.

Also Read: PolkaDot Price Surges High, Market Cap Hits $10 Billion

Polkadot Price Analysis

dot price

Polkadot price continues to consolidate above the $17.50 mark as the price faces strong resistance in crossing above the $19.00 mark.

Polkadot price is expected to rise to retest the $19.00 resistance level as the price moves upwards. The positive technical indicators and the rising trade volume suggests a bullish breakout above the level towards the $20.00 mark.

Conversely, if Polkadot’s price falls below the $17.50 support level, DOT may revisit the $15.00 support level. Further downwards movement may mean a fall to the $12.50 mark.

The RSI is neutral and trades close to the 50.00 mark showing low momentum on either side. The indicator is currently moving downwards but with a decreased slope suggesting a decreasing pressure.

The Bollinger bands are currently narrow and suggest further convergence as the price volatility continues to dwindle. The narrowing indicator suggests that Polkadot price may soon observe a sharp increase in price volatility.

Interesting Read: Analyst Believe Polkadot (Dot) Price to Hit $250 in 2021! Will It Enter the Top 5 Crypto Assets?

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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