Will DOT Price Hit $10 This Month?
Story Highlights
- DOT price has returned to the $8 mark, up approximately 29% intraday.
- Technical indicator RSI broke above overbought territory on the daily time frame.
- Sustained bullish action could push the price towards the $10 level.
The crypto market has maintained bullish price sentiment as Bitcoin price hovers near $100,000. Additionally, the top altcoins added huge value to their respective portfolios this week. At this point, the price of Polkadot has returned to the $8 mark.
Will Polkadot price maintain bullish sentiment? Or will this altcoin experience a major correction in the coming week? In this article, we discuss the short-term possibilities of the Polkadot (DOT) crypto token.
The price of DOT surged 88% this week!
Polkadot price maintained bullish sentiment, rising 28.59% in 24 hours, with trading volume reaching $1.722 billion. Additionally, it has risen 45.92% in the past seven days and 88.51% in the past 30 days.
The relative strength index (RSI) has crossed overbought territory on the daily time frame. This indicates increased buying and oversold pressure on the cryptocurrency.
The simple moving average (SMA) continues to support Polkadot price on the 1D timeframe, and its average trendline records similar price trends. This indicates a positive future for altcoins.
Will Polkadot price reach $10 this year?
If the bullish sentiment persists, DOT token price will be ready to test its resistance at $8.275. Furthermore, if the bulls maintain dominance over the bulls, this could lead to a rise in the price towards the overhead resistance at $9.910.
On the other hand, if there is a bearish trend reversal, Polkadot price may retest the $6.575 support. Additionally, if the bears outperform the bulls, this could pull DOT price towards lower support at $5 in the future.
Curious about the long-term prospects of this altcoin? Read Coinpedia’s Polkadot price prediction And subscribe to us to stay updated with the latest crypto news!
FAQ
For DOT price to reach $50, it would need to increase by 544.33%.
If the bullish sentiment continues, the price of this altcoin could reach a high of around $30 in 2025.
DOT price rose 28.58% intraday, with a valuation of $7.776.
