DOT/BTC pair gears up decently despite immense volatility with the Bitcoin price
Polkadot price is expected to hit more than $300 within a stipulated time frame
Polkadot Price May Surge, Yet a Bearish Trend May Also Follow!
The Polkadot price which smashed ATH in a small time frame, showcasing a probable Polkadot Season, plunged mercilessly shedding nearly 50% of the profits. However, the DOT price dip was short-lived as the price rose above the levels and consolidated.
Currently, the DOT price is correcting an uptrend which may lead the price to new higher levels. According to analysts and CEO of Gokhstein Media, David Gokhstein, the Polkadot price may hit $350 easily. Moreover, he also says that Polkadot and Cardano ecosystem can be a great alternative for the Ethereum platform.
Currently, DOT/USD pair is looking for a major breakout whereas, the DOT/BTC pair also appears to be quite stable despite immense voltality in the Bitcoin price.
What’s Awaited for the Dot Price Rally?
The DOT price, however, gained an extreme bullish momentum and recovered losses of the previous month close. However, the price still trends in a very narrow range and hence a strong push is required to propel the price towards the ATH.
Currently, Polkadot price is on the track in correcting the uptrend as the bullish momentum appears to be a little weak. DOT/USD pair is currently taking the support of the 20-day EMA at $32.
The price is required to rebound off the 20-day EMA so that the bulls push the price above $35 to retest the ATH at $42.28. Else a bearish divergence may decline the price below the current levels at $34.83.
The Polkadot price rally may accelerate if the upper resistance levels at $35 and later at $37 are broken. However, the support levels at $29 also need to be taken care of. The RSI for the DOT price is pretty bullish and the indicators also point towards a ‘buy’ signal.