Polkadot Price Analysis: Will DOT Price Hit $10 This Month?

Story Highlights

• The DOT price has reclaimed the $8 mark with an intraday jump of ~29%.
• Technical indicator RSI breaches the overbought range in the daily time frame.
• Sustained bullish action could push the price toward its $10 level.

With Bitcoin price hovering close to its $100k level, the crypto market has maintained its bullish price sentiment. Moreover, top altcoins have added significant value to their respective portfolio this week. With this, the Polkadot price has reclaimed the $8 mark.

Will the Polkadot price maintain its bullish sentiment? or will this altcoin experience a significant correction during the upcoming week? In this article, we have covered the short-term possibilities of the Polkadot (DOT) crypto token.

DOT Price Has Soared 88% This Week!

The Polkadot price has maintained its bullish sentiment by adding 28.59% in 24 hours with a trading volume of $1.722 billion. Moreover, it has surged 45.92% over the last seven days and 88.51% during the past 30 days.

The Relative Strength Index (RSI) has surpassed the overbought range in the daily time frame. This indicates an increase in the buying-over-selling pressure in the crypto.

The Simple Moving Average (SMA) constantly supports the Polkadot price in the 1D time frame, with its average trendline recording a similar price trend. This suggests a positive outlook for the altcoin in the coming time.

Will Polkadot Price Hit $10 This Year?

If the bullish sentiment sustains, the DOT coin price will prepare to test its resistance level of $8.275. Moreover, if the bulls maintain dominance over the bulls, this could result in the price heading toward its upper resistance level of $9.910.

On the flip side, if a bearish trend reversal occurs, the Polkadot price could retest its support level of $6.575. Further, if the bears outrun the bulls, this could pull the DOT price toward its lower support level of $5 in the upcoming time.

Curious to understand the long-term prospects of this altcoin? Read Coinpedia’s Polkadot Price Prediction and also subscribe to us to stay updated on the latest crypto news!

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