Monday, December 4

Polkadot Price Analysis: Following 8% Daily Drop, Here’s the Next Level to Consider for DOT

Key Support levels: $26

Key Resistance level: $33

DOT had a fantastic rally last week when the price increased by 40%. However, this week, DOT’s rally ended when the resistance at $33 rejected the price from moving higher. Today, the correction continued, and DOT has fallen under $30. The current support is found at $26.

Chart by TradingView

Technical Indicators

Trading Volume: Sustained volume both during the uptrend and the current downtrend. This shows that market participants have taken quite an interest in DOT recently.

RSI: The daily RSI has made a higher high during the rally, which is a strong bullish signal. However, after the rejection at $33, the RSI is falling. This can quickly change as soon as DOT finds support.

MACD: The daily MACD is bullish, but the histogram is making lower highs after the rejection at $33. This is not concerning as long as the moving averages don’t do a bearish crossover.

Chart by TradingView


The current DOT bias is neutral.

Short-Term Prediction for DOT Price

DOT had a very nice recovery last week after falling for over 40 days. It is important for the price to return to the uptrend after this correction, as otherwise, the top at $33 could be interpreted as a lower high within a larger bearish trend.


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.