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Analyst Believe Polkadot (Dot) Price to Hit $250 in 2021! Will It Enter the Top 5 Crypto Assets?

Altcoins

coinpedia.org 31 December 2020 04:30, UTC
  
Reading time: ~2 m

Polkadot Price Analysis 

Polkadot (DOT) saw an impressive week with an almost 34% rise in its value. Polkadot price had a strong start to December as the bulls charged at the $5.500 resistance level in an attempt to make a V-shaped recovery to the $6.00 price level.

On December 28, the price crossed above the $5,50 with sharp bullish activity carrying the price above the $6.50 level before the day’s end.

As per the weekly chart, Polkadot price exhibits sharp bullish momentum with 35% increase from the week’s opening price. The recent candlestick shows the price movement across the last 48 hours which indicates that the  movement is not sustainable.

The altcoin price is expected to observe consolidation or retrace back to the $6.00 level before rising again.

Also Read : Analyst Believe Chainlink (Link) Will Be Ranked 3rd Valuable Crypto

At press time, Polkadot is trading at $7.29 with a 24-hour trading volume of $2,364,517,133 USD. DOT price is up 15.81% in the last 24 hours. The current CoinMarketCap ranking is #7, with a market cap of $6,524,473,098 USD.

Across the technical indicators, the MACD shows decreasing bullish momentum as the two EMAs continue converging. Meanwhile, the RSI suggests a bearish movement as the indicator hovers around 70.00 marks. Unless the bulls can hold the price steady at the current level, Polkadot price may observe another correction to the $6.00 level.

Will the Dot Price Surge in 2021? Can Polkadot Stand Among the Top 5 Crypto Assets?

Price prediction for $DOT is $250 in 2021. If you missed $Eth, it will only make sense you have #Polkadot now!

— Joe, the #CryptoBullish (@joedegeek) December 29, 2020

Crypto Enthusiasts and Analyst with twitter handle @joedegeek seems to be super bullish on DOT. Joedegeek predicts that Polkadot price will hit $250 in 2021. He also points out that “If you missed $Eth, it will only make sense you have #Polkadot now!” 

0/3 Here are my 10 crypto predictions for 2021 in no particular order:

1. $BTC will hit $100K in 2021

2. $ETH will surpass its ATH within the next 6 months

3. $DOT will be Top 5 by market cap in 2021

— SpartanBlack (@SpartanBlack_1) December 28, 2020

On the other hand, another popular crypto analyst and trader with Twitter handle @SpartanBlack_1 believes that Polkadot has the potential to grow and will be Top 5 by market cap in 2021. 


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