Polkadot price prediction for today, December 1 – DOT technical analysis

Polkadot price prediction shows that DOT is likely to make another attempt to break above the $5.50 resistance level.

Polkadot prediction statistical data:

• Current Polkadot price – $5.46
• Polkadot market cap – $6.9 billion
• Polkadot circulation – 168.3 million
• Polkadot total supply – 1.2 million
• Polkadot CoinMarketCap Ranking – 15th

DOT/USD market

Main level:

Resistance levels: $6.50, $7.00, $7.50

Support levels: $4.50, $4.00, $3.50

DOT/USD strength was rejected near the $5.52 level as the coin reverted to the downside. However, Polkadot price is heading towards the 9-day and 21-day moving averages and if bears re-enter the market, the coin will likely fall below the support level of $5.00.

Polkadot Price Prediction: DOT Price Could Follow an Uptrend

Polkadot price may rise from $5.46. If DOT/USD breaks above the upper boundary of the channel, the coin could continue rising and retest the previous high of $6.00. Therefore, the nearest resistance levels are at $6.50, $7.00, and $7.50. Conversely, if the coin heads toward the lower boundary of the channel, it may reach support levels of $4.50, $4.00, and $3.50 respectively, causing the bullish volume to disappear.

DOT/BTC is consolidating within a moving average.

Compared to Bitcoin, Polkadot price is following a bearish move as the coin prepares below its 9-day moving average. The downside is that if the market price heads to the downside, the next support level could come at 1300 SAT and later, if the sell-off increases, additional key support could be found below 1200 SAT.

However, if the uptrend pushes the price back above the resistance level of 1453 SAT; Polkadot can face 1500 SAT. Other resistance levels are above 1655 SAT. Meanwhile, the 9-day moving average remains below the 21-day moving average, confirming the bearish movement in the market. Nonetheless, a move below the support level of 1250 SAT could bring more bearish pressure to the market.

Polkadot Alternative

As can be seen from the daily chart, Polkadot price is likely to head south, but if buyers are able to maintain the current market value and the coin starts to move higher, bulls can expect immediate resistance to be positioned above the upper limit at $6.0. of the channel. Meanwhile, if the bears continue to push the market lower, we could see immediate support below the $5.0 level.

Nonetheless, Polkadot (DOT), with a market capitalization of $6.9 billion, is having trouble achieving quick profits due to its size. In contrast, Bitcoin Minetrix, which has a lower market capitalization, has significant growth potential, especially in the mining space. However, the token is strategically positioned in line with market trends and Bitcoin protocol fundamentals, and has raised over $4.6 million in its ongoing presale, demonstrating strong support and growth prospects.

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