DOT has been up 3.86% in the last 24 hours, with a price of $43.30 and a trading volume of over 1 billion dollars. Polkadot’s price has been steadily rising over the past month.
It seems that this recent price increase is starting to have a negative effect on the DOT. A bearish pattern has been formed, and it may last for several weeks or months before we see any change in direction again.
However, these gains might be costly for investors as they result in a negative bearish pattern that is expected to last for some time yet.
Polkadot Price Forecast
After a nearly 61.67% ROI in the last month, it’s no surprise that this altcoin is on fire. DOT price action has been displaying an ascending wedge pattern for almost all its existence, and we expect it to continue increasing.
The price of Polkadot climbed in recent months but then started a consolidation period shortly after.
It seems that this rally created multiple higher highs and even higher lows which converged at one point in time before sliding back down again, for now, possibly setting up another rise towards new heights soon enough.
It’s difficult to say what will happen with Polkadot in the long-term, but trend analysis suggests that it could be heading towards $60 dollars or more.
According to Fxstreet,
“Since the Polkadot price is just under its all-time high at $49.78, this drop would be a massive opportunity for long-term buyers to accumulate DOT at a discounted price”.
“In some cases, Polkadot price could extend its run-up to hit the $100 psychological level”.
This is your chance to buy into the future of blockchain. The DOT price has been hovering around its all-time high, and this drop would be an excellent time for long-term investors who bought at $49.78 now could accumulate DOT with huge discounts.