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Polkadot price has a bullish target at $26, here’s what to expect next


www.fxstreet.com 01 April 2022 01:43, UTC
Reading time: ~2 m

  • Polkadot price is up 20% in the last two weeks.
  • DOT price is finding support at the 100-Day moving average.
  • An invalidation for the bullish trend lies at $18.13.

Polkadot price has more upside potential

Polkadot price has rallied 20% in the last two weeks, establishing a new swing high at $23.33. It was forecasted on March 15 that a triangle formation could project a 38% rally for the Polkadot price. Now that the DOT price has halfway validated the corrective WXY pattern, the bulls are experiencing downside pressure from the bears.

Polkadot price could warrant early investors to join the uptrend as the digital asset is currently hovering above the 100-Day moving average. If bulls can establish firm support in this zone, prices could continue to rally an additional 20% towards $26.

dot 3.31.22

DOT/USDT 8-Hour Chart

Invalidation of the current bullish trend lies at $18.13. If the bears could breach this level, the entire bullish model for the Polkadot price would be void. A further sell-off would likely occur between $16.50 and $16, resulting in a 25% correction from the current Polkadot price.

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