Polkadot Price Prediction: DOT Seeks Stability in 2023

• Polkadot is presently astatine $6.62 (press time), pinch an summation of 5.32% during nan intraday trading session.
• The 24-hour debased of DOT was $6.27 and nan 24-hour precocious of DOT was $6.70.
• The existent Polkadot token value is supra 20, 50, 100, and 200-Day EMAs.

The brace of DOT/BTC was trading astatine $0.0002405 BTC pinch a dip of 0.42% complete nan intraday trading session.

Polkadot value study suggests that it is presently successful an uptrend aft nan statement of nan bullish hammer candlestick-like shape complete nan regular trading chart. After nan commencement of 2023, DOT again started moving upward, breaking its superior support and guidance connected its measurement up. But arsenic soon arsenic nan token reached its secondary guidance of $7.92 sellers became active, pushing nan token beneath its superior support. After that, nan DOT token collapsed its superior support of $6.06 and nan buyers became hyperactive successful nan marketplace arsenic tin beryllium seen connected nan chart. The trading measurement roseate supra nan mean trading measurement suggesting that location is dense buying happening successful nan market.

The statement of a bullish hammer candlestick-like shape aft a downtrend complete nan regular clip framework floor plan indicates that nan DOT token has reached its bottommost and is positioned for a inclination reversal. It indicates that sellers entered nan market, pushing DOT token down, but were later outnumbered by buyers who drove nan value up. This mightiness beryllium nan origin for nan existent uptrend that tin beryllium seen complete nan regular chart.

The measurement of nan coin has accrued by 31.71% successful nan past 24 hours. The summation successful measurement indicates that nan number of buyers has increased.

Polkadot Price Technical analysis:

RSI is proceeding toward nan overbought area and displayed a affirmative crossover which indicates that nan buyers are coming successful nan mostly and pushing nan value upwards. This suggests nan spot of nan trend. The existent worth of RSI is 57.03 which is beneath nan mean RSI worth of 43.67. 

The MACD and nan awesome statement are expanding and showing a bullish crossover complete nan regular floor plan which supports nan RSI description.

Conclusion

Polkadot value study suggests that it is presently successful an uptrend aft nan statement of nan bullish hammer candlestick shape complete nan regular trading chart. From nan commencement of 2023, nan DOT token is seeking stableness successful nan marketplace pinch nan thief of buyers. The summation successful measurement indicates affirmative marketplace sentiment towards nan DOT token. RSI and MACD some are expanding and person shown a affirmative crossover complete nan regular trading floor plan which indicates spot successful nan existent uptrend, arsenic per nan method indicators.

Technical Levels-

Resistance level- $7.06 and $7.92

Support level- $6.06 and $4.25

Disclaimer-

The views and opinions stated by nan author, aliases immoderate group named successful this article, are for informational purposes only, and they do not found financial, investment, aliases different advice. Investing successful aliases trading crypto assets comes pinch a consequence of financial loss.