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Polkadot Targets For 2024-2025ETHEREUM CLASSIC COMPARISON Ethereum Classic is a coin from around august 2016. It had its first bull run in 2017/2018. It had its second and most powerful bullrun in 2021, when it made an approximately 53x from its (double) bottom. Coins that were "new" during one bull cycle often perform best in their second, more mature bull cycle. What can be observed with ETC, can also be observed with LTC, ADA, and plenty of other coins that had a first good bull cycle, but an even more impressive 2nd. After the 2nd cycle, the returns tend to diminish because of saturation, large amount of bagholders, and a larger marketcap. POLKADOT Polkadot is coincidentally a coin from around august 2020. It launched just in time to participate in the 2021 bull cycle. According to some, it under-performed compared to other cryptocurrencies. As of July 2023, we can observe a double bottom pattern on the weekly BINANCE:DOTUSD chart, with the 50 weekly MA also flattening out, which is a positive sign for bulls as it shows a weakening bearish trend. Polkadot's BTC ( BINANCE:DOTBTC ) pair is also extremely oversold on the weekly chart. PRICE TARGETS Looking at COINBASE:ETCUSD , we can see that Ethereum Classic had a blow-off top to the 3.618 fib level in may 2021, reaching a price of over $165 dollars, or a 53x from its bear market lows. If Polkadot were to perform similarly, it could potentially reach a price of $193, corresponding with its 3.618 FIB level. A 53x from its bottom would give us an approx. price of $220 per DOT sometime in 2024 or 2025. PRELIMINARY TARGETS FOR DOT Polkadot does not have extensive price history like bitcoin or ethereum classic. One of the most important indicators to watch is its 50 day weekly moving average, which currently sits at around $6.14. This price correlates with important horizontal S/R levels. If DOT manages to break past this level, which it currently is not far removed from, then we can expect a rapid appreciation of price. Targets to watch after breaching this level would be between $14 and $23. WEN ATH? I believe Polkadot's new ATH will coincide with that of the broader cryptocurrency markets. I believe Bitcoin will reach a new ATH between april 2024 and january 2025, so I expect DOT to reach a new USD-ATH within this same timeframe. POLKADOT IS SAFU Polkadot was one of few major PoS (Proof-of-Stake) cryptocurrencies not in the SEC's filings against Binance and Coinbase. This has to do with Polkadot/Web3 Foundation having successfully morphed Polkadot to become software, rather than a security. What sets Polkadot apart from other coins/projects such as ADA, Cosmos, etc. is that Polkadot was actually originally registered as a security. The teams behind the decentralized Polkadot project are doing everything according to US securities law. This could prove to be beneficial from Polkadot during the upcoming bull cycle. POLKADOT IS THE MOST ACTIVELY DEVELOPED BLOCKCHAIN Polkadot is one of the most actively developed blockchain, rivaling Ethereum and Cardano. Polkadot is an ecosystem and the people behind it are extremely talented and passionate and focus more on building rather than worrying about the token's price. Gavin Wood, the creator of Polkadot, is also one of the co-founders of Ethereum. The Web3 foundation is behind Polkadot – in fact, Polkadot is their flagship protocol.
BINANCE:DOTUSDLong
by couldntcomeupwithone
4
The 4.605-5.408 section corresponds to the buy sectionHello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a good day. ------------------------------------- (DOTUSDT chart) The 4.605-5.408 section corresponds to the buy section. Therefore, it is necessary to check whether it is supported and rises in the 4.605-5.408 section. However, since the HA-Low indicator on the 1M chart is formed at the 6.640 point, it is recommended to take an aggressive buying approach. 1st: 6.280-6.640 2nd: 7.530-7.860 3rd: 9.262 Split selling is possible when there is resistance around the 1st - 3rd above. -------------------------------------------------- ------------------------------------------- ** All descriptions are for reference only and do not guarantee profit or loss in investment. ** Even if you know other people's know-how, it takes a considerable period of time to make it your own. ** This is a chart created with my know-how. ---------------------------------
by readCrypto
1
Bearish Trend Breaks Support, Await Signs of ReversalOver the past month, the price of DOT (Polkadot's currency) has faced considerable downward pressure, moving between the support level of $5.15 and the resistance level of $5.60. However, the price recently broke below the lower boundary of Polkadot's currency range channel, indicating a bearish trend. This selling pressure was so strong that it briefly dipped below the price floor of $4.23, which had been established at the end of 2022. Interestingly, the price of Polkadot found significant monthly support within the range of $4.24 to $3.98 and responded positively to this support level. This suggests that there is a potential for a trend reversal and upward movement in price if we observe encouraging signs of a positive reaction and a change in the trend on the daily and four-hour time frames within this support range. These signs could indicate a reduction in selling pressure and a renewed demand for DOT. However, at present, we do not see these favorable indications on the mentioned time frames. It may be necessary to wait for signs of a trend change in the short-term, particularly for lower time frame trades. For example, on the 15-minute time frame, if the resistance level between $4.53 and $4.57 is broken, it could serve as a signal for a short-term trend reversal. It is important to closely monitor how the market responds to this monthly support level, as a strong positive reaction could result in the price of Polkadot fluctuating within the range of $4 to $5 for a certain period of time. Considering the current market conditions, it is crucial to remain cautious and wait for confirmation of a positive trend change before making any significant trading decisions. The RSI (Relative Strength Index) value of 34 on the 4-hour timeframe suggests that the market is in a slightly oversold condition, but further analysis and confirmation are necessary to determine the direction of the price movement.
by MonoCoinSignal
2
DOT/BTC - Polkadot: Triangle_&_Wedge◳◱ Our analysis has revealed a Triangle & Wedge pattern on the MIL:DOT / CRYPTOCAP:BTC chart, signaling a period of consolidation as the price moves within the confines of this pattern. The next resistance key levels are at 0.0002012 | 0.0002053 | 0.0002129 and the major support zones are respectively at 0.0001936 | 0.0001901 | 0.0001825. A potential trend change could emerge upon a breakout from this pattern. As such, we may consider buying at the current price and aim for higher levels above the breakout level. ◰◲ General info : ▣ Name: Polkadot ▣ Rank: 13 ▣ Exchanges: Binance, Kucoin, Huobipro, Gateio, Poloniex, Mexc ▣ Category/Sector: Infrastructure - Smart Contract Platforms ▣ Overview: Polkadot is a blockchain network designed to support various interconnected, application-specific sub-chains called parachains (short for parallelized chains). Each chain built within Polkadot uses Parity Technologies' Substrate modular framework, which allows developers to select specific components that suit their application-specific chain best. Polkadot refers to the entire ecosystem of parachains that plug into a single base platform known as the Relay Chain. This base platform, which also leverages Substrate, does not support application functionality but instead provides security to the network's parachains and contains Polkadot's consensus, finality, and voting logic. ◰◲ Technical Metrics : ▣ Mrkt Price: 0.0001997 ₿ ▣ 24HVol: 36.868 ₿ ▣ 24H Chng: 0.352% ▣ 7-Days Chng: -2.09% ▣ 1-Month Chng: -12.91% ▣ 3-Months Chng: -20.98% ◲◰ Pivot Points - Levels : ◥ Resistance: 0.0002012 | 0.0002053 | 0.0002129 ◢ Support: 0.0001936 | 0.0001901 | 0.0001825 ◱◳ Indicators recommendation : ▣ Oscillators: NEUTRAL ▣ Moving Averages: NEUTRAL ◰◲ Technical Indicators Summary : NEUTRAL ◲◰ Sharpe Ratios : ▣ Last 30D: -3.20 ▣ Last 90D: -1.79 ▣ Last 1-Y: -0.51 ▣ Last 3-Y: -0.01 ◲◰ Volatility : ▣ Last 30D: 0.39 ▣ Last 90D: 0.58 ▣ Last 1-Y: 0.76 ▣ Last 3-Y: 1.60 ◳◰ Market Sentiment Index : ▣ News sentiment score is 0.44 - Bearish ▣ Twitter sentiment score is 0.63 - Bullish ▣ Reddit sentiment score is 0.49 - Bearish ▣ In-depth DOTBTC technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF
DOTBTC 2023 outlook Polkadot price actionTime to look at my favourite altcoin and it's pretty dismal perfomance over the last year agaisnt BTC I've outlined my basic outlook on the weekly chart using candle stick closes and Log fibs. Coincidentally its touched the .886 retrace to the T. Typical sign of weak altcoins to retrace all the way back to the .886 level. I'm pretty confident the bottom for DOT/BTC is in based on this and the fact that its nearly an 80% correction from ATH vs BTC My mid term outlook is bullish (for a change) Looking at best case scenario retrace up to .618 from ATH placing it at the .0004830 sat region I've marked out 3 different TP below and above this level respectively as I've become accustomed to DOT usually underperforming against market competitors. So my TP is more conservative vs others. With the exception of TP3 being higher as I see this as an ATH for this market cycle Some thoughts on DOT Personally this is my favourite altcoin of them all. Admittedly one should not have emotion when it comes to trading as we're all here to make money and not love My bias is fundamentally based and I will probably always keep staking my DOT from my ledger for years to come Point 1 - Its not a security, this gives institutional interest and clarity on adding it to their basket or portfolio Point 2 - Highest DEV activity compared to other L1 : Link : www.thecoinrepublic.com Point 3 - Interoperability (future proof) Point 4 - Staking offline (my personal favourite) Point 5 - Gavin Wood (some food for thought for the ETH maxi's) There are more use cases to be made however one can only consider an argument valid if you can argue from both ends, So my concern for this project is as follows: Point 1 - Concensus mechanism too slow. One of my dear friends informed me they wanted to launch TAO on their parachain but it was too slow for their timeline, in turn they self funded the crowdloan Point 2 - Inflation. As great as APR is with Staking this shows inflation in the ecosystem and given that DOT has no FINITE market cap it can dampen price action in future I'll be adding my DOT/USDT analysis to this post and updating it over time. As this is afterall my favourite ))
Long
by Andy1GP
1
6.640, an important point for the long termHello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a good day. ------------------------------------- (DOTBTC 1W chart) The question is whether it can move above 0.0002 728 and break out of the downtrend channel. If not, it is expected to lose the power to rise even more. ---------------------------------------------- (DOTUSDT chart) (1W chart) You need to rise above 7.530 to get out of the bottom section. If the price holds above 10.131, we expect a full-fledged uptrend. To do so, the key is whether the price can be maintained above 5.192. (1D chart) We need to see if we can get support around 5.956 and move up along the uptrend line. If that fails, you should check for support around 5.674. At 6.640, the HA-Low indicator on the 1M chart was created. Therefore, if it rises to around 6.640 and is confirmed to be supported, I think it is possible to buy from a long-term perspective. However, it is expected that we will need to stock up on strength to break through the 7.530-10.131 section upward, so we need to calm down and proceed with the purchase slowly. -------------------------------------------------- ------------------------------------------- ** All descriptions are for reference only and do not guarantee profit or loss in investment. ** Even if you know other people's know-how, it takes a considerable period of time to make it your own. ** This is a chart created with my know-how. ---------------------------------
by readCrypto
1
Significance of the 9.262-10.131 sectionHello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a good day. ------------------------------------- (DOTBTC 1W chart) The question is whether it can break out of the downtrend channel and rise above 0.0003 911. Therefore, it must rise above 0.0003 911 to gain or dissipate the rising force. --------------------------------------- ------------------------------------------ (DOTUSDT 1W Chart) The question is whether it can break out of the downtrend channel and rise above 7.530. If not, you should check for support around 5.192. (1D chart) The downtrend line passing through the top is not yet accurate. Therefore, the downtrend line is valid only when the candlestick closes with a lower candlestick this week. In any case, it is important to see if the price can sustain itself by moving higher above the 6.208-6.440 zone. If not, it is expected to fall below 5.674. Depending on the movement of BTC, it is expected to touch the circle section marked on the chart. From a mid- to long-term perspective, the important section is the 9.262-10.131 section. If the price holds above this zone, it is expected that the mid- to long-term uptrend will begin. DOT is one of the coins expanding the coin ecosystem. Therefore, it is one of the coins that can be invested in from a mid- to long-term perspective. -------------------------------------------------- ------------------------------------------- ** All descriptions are for reference only and do not guarantee profit or loss in investment. ** If you share this chart, you can use the indicators normally. ** The MRHAB-T indicator includes indicators that indicate points of support and resistance. ** Check the formulas for the MS-Signal, HA-Low, and HA-High indicators at (). (Short-term Stop Loss can be said to be a point where profit or loss can be preserved or additional entry can be made by split trading. This is a short-term investment perspective.) ---------------------------------
by readCrypto
Price growth could continue to the $9.680 rangeGiven that the potential for an intraday trend reversal has emerged for DOT, if buyers can keep the price above $6.523, price growth could continue into the $9.680 range in the medium term. If the resistance of the ceiling of the descending channel is completely broken, it will be possible to reach the target of $9.680. Of course, pullbacks should not be ignored, and a return to the lows in the $5.102 - $5.374 range is possible. The last point is that if the previous ceiling at $6.523 is broken before the pullback, we can consider the $6.523 support as a safe zone for a pullback.
by MonoCoinSignal
💥☃️🌲Polkadot Analyze (Road Map)!!!🗺️💥☃️🌲(+200%😱)❗️❓Today, I showed you the Polkadot road map🗺️. Polkadot is running near the heavy support zone. I expect Polkadot will go down a little more and then start to rise to a heavy resistance zone( about +200%)😱. 🔆Suggestion: If you want to add DOT to your portfolio, you can wait to break the downtrend line and SMA 100(Daily TF). Polkadot Analyze ( DOTUSDT ) Timeframe Weekly⏰ (Log Scale). Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
by pejman_zwin
DOT/USDT 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this DOT/USDT 1DAY chart update by CRYPTOSANDERS. I have tried to bring the best possible outcome to this chart. Show some support, hit the like button, and follow and comment in the comment section. this motivates me to bring this kind of chart analysis on a regular basis. CHART ANALYSIS:-Polkadot (DOT), was another big gainer in today’s session, with prices moving closer to a four-week high. Following a low of $4.84, DOT/USD managed to reach an intraday high of $5.16 earlier on Thursday. As a result of this move, DOT broke out of a key resistance level of $5.15, hitting its strongest point since December 16 in the process. As can be seen from the chart, the 14-day RSI has failed to move beyond its long-term ceiling of 68.00 and has since slipped lower. Price strength is now tracking at 63.10, with DOT declining from its earlier peak, and the asset is trading at $5.09. In order for the token to continue to move higher, there will first need to be a rally above its 68.00 points on the RSI. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you
BINANCE:DOTUSD
by CryptoSanders9563
1