Lorenzo Stroe
Independent Analyst
- Polkadot price is up by 108% since December 28, 2020 hitting a market capitalization of $9 billion.
- The digital asset is on its way to becoming the 6th largest cryptocurrency after a meteoric rise.
Polkadot has been trading inside a massive uptrend since December 28 after a long period of sideways trading since September. The digital asset experienced an explosive increase in trading volume in the past week which adds credence to the bulls.
Polkadot price must hold critical support level against Bitcoin to continue rising
On the 4-hour chart of DOT/BTC, Polkadot has been trending downwards since January 4. At 0.00025 BTC there is a crucial support level that DOT must hold at all costs to see another leg up against Bitcoin.
DOT/BTC 4-hour chart
On the 4-hour chart of DOT/USD, Polkadot price has held above a strong trendline which coincides more or less with the 26-EMA. As long as DOT remains above both levels, the uptrend will remain intact. Bulls aim to break $10.68 next.
DOT/USD 4-hour chart
However, the digital asset is already fairly extended after a 100% breakout in the past week which means it might be poised for a correction first before resuming the uptrend.
DOT/USD 6-hour chart
On the 6-hour chart, the TD Sequential indicator has presented a sell signal for the first time since December 30. Validation of the call could push Polkadot price below the strong trendline and the 26-EMA towards $9.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Shiba Inu eyes positive returns in April as SHIB price inches towards $0.000015
Shiba Inu's on-chain metrics reveal robust adoption, as addresses with balances surge to 1.4 million. Shiba Inu's returns stand at a solid 14.4% so far in April, poised to snap a three-month bearish trend from earlier this year.
AI tokens TAO, FET, AI16Z surge despite NVIDIA excluding crypto-related projects from its Inception program
AI tokens, including Bittensor and Artificial Superintelligence Alliance, climbed this week, with ai16z still extending gains at the time of writing on Friday. The uptick in prices of AI tokens reflects a broader bullish sentiment across the cryptocurrency market.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week. This week’s rally was supported by strong institutional demand, as US spot ETFs recorded a total inflow of $2.68 billion until Thursday.
XRP price could renew 25% breakout bid on surging institutional and retail adoption
Ripple price consolidates, trading at $2.18 at the time of writing on Friday, following mid-week gains to $2.30. The rejection from this weekly high led to the price of XRP dropping to the previous day’s low at $2.11, followed by a minor reversal.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.