Polkadot Price Prediction 2021 – Will DOT Hit $100 Soon?

Polkadot Price Prediction 2021 - Will DOT Hit $100 Soon?
  • Bullish DOT price prediction ranges from $28.74 to 86.92
  • DOT price might also reach $100 soon.
  • DOT bearish market price prediction for 2021 is $19.47

In Polkadot (DOT) price prediction 2021, we use statistics, price patterns, RSI, and much other information about DOT to analyze the future movement of the cryptocurrency. 

Polkadot is an open-source sharding multichain protocol that provides the cross-chain transfer of any information or asset types, not just tokens, however making a wide range of blockchains interoperable with each other.

According to CoinGecko, the DOT price is trading at $21.11 with a 24-hour trading volume of $1,507,292,030, at the time of writing. However, DOT has decreased by 3.29% in the last 24 hours.

Moreover, DOT has a circulating supply of 953,313,729.46 DOT. Currently, DOT trades in cryptocurrency exchanges such as Binance, OKEx, Huobi Global, CoinTiger, and FTX. 

Polkadot DOT Price Prediction 2021

Polkadot (DOT) holds the 9th position on CoinGecko right now. Polkadot DOT price prediction 2021 explained below with a monthly time frame.

DOT/USDT Price Chart Monthly Time Frame
DOT/USDT Price Chart Monthly Time Frame (Source: TradingView)

The above chart shows the swing low and swings high of Polkadot. A swing low is identified when the price makes a low and is immediately followed by two consecutive higher lows. Likewise, a swing high is represented when the price makes a high and is proceeded by two consecutive lower highs.

In the monthly time frame chart,  if the price of the DOT breaks the resistance level of $28.83, it will reach the target of $49.83 and $87.19. Or else, if the price of the DOT breaks the support level of $19.58 means it will fall to the next support level at $13.64. So, the trend of the DOT is based on the breakout.

DOT Support and Resistance Level

The below chart shows the support and resistance level of DOT.

DOT/USDT Support and Resistance Level
DOT/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frames, it is clear the following are the resistance and support level of DOT.

  • Resistance Level 1 – $28.74
  • Resistance Level 2 – $50.15
  • Resistance Level 3 – $86.92
  • Support Level 1 – $19.47
  • Support Level 2 – $13.5
  • Support Level 3 – $7.1

The charts show that DOT has performed a bullish trend over the past month. If this trend continues, DOT might run along with the bulls overtaking its resistance level at $86.92.

Conversely, if the investors turn against the crypto, the price of DOT might plummet to almost $19.47, a bearish signal.

Polkadot (DOT) Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of DOT. Generally, the Average Direction Index (ADX) helps traders determine the strength of a trend, rather than its actual direction. It can be used to determine whether the market is changing or a new trend is starting. It is associated with the Directional Movement Index (DMI) and basically includes the ADX line. 

The range of the oscillator is from 0 to 100. A high value indicates a strong trend, and a low value indicates a weak trend. It is often combined with directional indicators. 

DOT/USDT ADX
DOT/USDT ADX(Source: TradingView)

The above chart shows the ADX of DOT stays above the range of 22, so it indicates a sideways trend.

Conclusion

The DOT is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term DOT price prediction 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $49.69 this year. However, this will only happen if it breaks many past psychological resistances.

Furthermore, with the ongoing developments and upgrades within the DOT ecosystem, it could experience a great future ahead in 2021. It may reach $86.92 soon and it might even reach high heights, however reaching $100, if investors have planned that DOT is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.