Polkadot price prediction for today, December 12 – DOT technical analysis

Polkadot price prediction is likely to show an upward trend if the market can remain above the moving average.

Polkadot prediction statistical data:

• Current Polkadot price – $7.19
• Polkadot market cap – $8.8 billion
• Polkadot Circulating Supply – 1.25 billion
• Polkadot total supply – 1.38 billion
• Polkadot CoinMarketCap Ranking – 12th

DOT/USD market

Main level:

Resistance levels: $8.5, $9.0, $9.5

Support levels: $5.5, $5.0, $4.5

As of this writing, DOT/USD is showing positive movement as the market opens today. The market is showing a slight retracement move with the price rising by 7.15%. Aside from today’s small gains, Polkadot price still maintains a bullish move within the channel and traders can expect the coin to surge above the upper boundary of the channel as soon as the bulls put more pressure on the market.

Polkadot Price Prediction: DOT/USD Could Maintain Uptrend

If Polkadot price continues to follow an upward trend, traders can expect a continuation of the bull run as buyers increase pressure. However, the 9-day moving average continues to stay above the 21-day moving average. Potential resistance levels could be located at $8.5, $9.0, and $9.5 in the long term.

Meanwhile, if the coin starts moving sideways, the market price may break the channel or head south. Looking at the price formation, we could still see a bullish move in this market, but a bearish crossover below the lower boundary of the channel could push the coin back towards its long-term support at the $5.5, $5.0, and $4.5 levels.

DOT/BTC bulls may come out.

Compared to Bitcoin, Polkadot price is showing a bullish move as the coin continues to hover above its 9- and 21-day moving averages. However, if the bears are trying to gain momentum, it is likely to put significant pressure on the market if the 9-day MA breaks below the 21-day MA, implying a bearish signal.

However, if the coin heads towards the lower boundary of the channel, it is likely to hit the nearest support at 1500 SAT. Any further negative movement could push the price below 1450 SAT. Meanwhile, if a bounce occurs, a bullish crossover above the upper boundary of the channel could find resistance above 1950 SAT.

Alternative to Polkadot

Polkadot price is currently up 7.15% and trading above the 9-day and 21-day moving averages. However, with the recent formation of a candle, caution is needed as it may pose a risk if it crosses the moving average downward while considering an upward movement. Meanwhile, the nearest support level is $6.5. This is because when a bullish wave occurs, the price can move significantly above the upper boundary of the channel. Therefore, traders must closely monitor these factors to make informed decisions.

However, while Polkadot (DOT) has struggled to generate quick profits due to its $8.8 billion market capitalization, Bitcoin Minetrix, with its smaller market capitalization, has significant growth potential, especially in the mining space. The token has already raised over $5.2 million in its ongoing pre-sale, indicating strong support and promising growth prospects as it is strategically placed and aligned with Bitcoin protocol fundamentals.

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