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Is DOT A Buy at Current Levels? Polkadot Crypto Next Target
Polkadot crypto is making lower lows and now trading at support level in the market. Any rebound that follows may result in a 15-20% gain from these levels.
In this article, we will look at Polkadot crypto next target by looking at price chart and technicals.
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Polkadot Crypto Next Target- Price: $3.96
- 24-Hour Price Change: +$0.02 (+0.51%)
- Intraday High: $4.08
- Intraday Low: $3.86
- Market Capitalization: Approximately $6.19 billion
- 24-Hour Trading Volume: Approximately $221.81 million
- Circulating Supply: 1.56 billion DOT
- Total Supply: 1.56 billion DOT
Src- Altfins
Price is in a Downtrend, however, it had a bullish breakout from Falling Wedge pattern, which could signal at least a temporary bullish trend reversal. Upside potential to $5.64 (200 SMA). Stop Loss at $3.80.
This is a riskier trade setup because it’s a trend reversal not a trend continuation setup. It’s against the overall downtrend.
Buy Now Technical Indicators- 50-Day Simple Moving Average (SMA): $4.50
- 200-Day Simple Moving Average (SMA): $5.20
- 14-Day Relative Strength Index (RSI): 45.3
- Moving Average Convergence Divergence (MACD): -0.02
- Average Directional Index (ADX): 22.5
- Trend: Short-term trend is Strong Down, Medium-term trend is Strong Down, Long-term trend is Strong Down.
- Momentum is Bearish but inflecting, which suggests that momentum could be nearing an upswing.
- Support and Resistance: Nearest Support Zone is $3.90. Nearest Resistance Zone is $5.00, then $6.50.
- Polkadot Allocates 3 Million DOT for DeFi Growth: The Polkadot community has voted to allocate 3 million DOT tokens to enhance the ecosystem’s DeFi landscape.
- Polkadot Sponsors Aleph 2025 Conference: Demonstrating its commitment to global blockchain initiatives, Polkadot is sponsoring the Aleph 2025 conference in Argentina.
- Polkadot’s Multi-Million Marketing Expenses Under Scrutiny: The project has faced criticism from its community after revealing $37 million in marketing expenses.
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