Polkadot (DOT) Price Prediction 2024, 2025–2030 | CoinCodex (2024)

According to our current Polkadot price prediction, the price of Polkadot is predicted to rise by 227.96% and reach $ 21.33 by July 9, 2024. Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 75 (Greed). Polkadot recorded 15/30 (50%) green days with 3.95% price volatility over the last 30 days. Based on the Polkadot forecast, it's now a bad time to buy Polkadot.

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Based on the historical price movements of Polkadot and the BTC halving cycles, the yearly low Polkadot price prediction for 2025 is estimated at $ 6.51. Meanwhile, the price of Polkadot is predicted to reach as high as $ 30.73 next year. Using the same basis, here is the Polkadot price prediction for each year up until 2030.

Polkadot price prediction 2025

The Polkadot price prediction for 2025 is currently between $ 6.51 on the lower end and $ 30.73 on the high end. Compared to today’s price, Polkadot could gain 377.05% by 2025 if DOT reaches the upper price target.

Polkadot price prediction 2030

The Polkadot price prediction for 2030 is currently between $ 16.39 on the lower end and $ 26.58 on the high end. Compared to today’s price, Polkadot could gain 312.56% by 2030 if it reaches the upper price target.

Polkadot's 50-Day, 200-Day Simple Moving Averages and 14-Day Relative Strenght Index - RSI (14)

Based on our technical indicators, Polkadot's 200-day SMA will rise in the next month and will hit $ 8.52 by Jul 09, 2024. Polkadot's short-term 50-Day SMA is estimated to hit $ 10.58 by Jul 09, 2024.

The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 34.96, which indicates that the DOT market is in a neutral position.

Popular DOT Moving Averages and Oscillators for Mon, Jun 10, 2024

Moving averages (MA) are a popular indicator in all financial markets, designed to smooth price action over a certain amount of time. They are a lagging indicator which means they are influenced by historical price activity. In the table below you can find two types of moving averages, simple moving average (SMA) and exponential moving average (EMA).

Polkadot Oscillators

An oscillator is a technical analysis tool that constructs high and low bands between two extreme values, and then builds a trend indicator that fluctuates within these bounds. Traders use the trend indicator to discover short-term overbought or oversold conditions.

Polkadot Key Price Levels

Based on today's classical pivot point (P1) with the value of $ 6.47, Polkadot has support levels of $ 6.27, $ 6.15, and the strongest at $ 5.95. Similarly, Polkadot resistance levels are at $ 6.59, $ 6.79, and $ 6.91.

Polkadot Correlation

Over the past 7 days, Polkadot price was most positively correlated with the price of Tezos (XTZ), eCash (XEC), ApeCoin (APE), Dogecoin (DOGE) and Avalanche (AVAX) and most negatively correlated with the price of Injective (INJ), Filecoin (FIL), Wormhole (W), Monero (XMR) and Ordinals (ORDI).

Polkadot price is positively correlated with the top 10 coins by market cap with a price of 0.950, excluding Tether (USDT) and positively correlated with the top 100 coins by market cap excluding all stablecoins with a price of 0.697.

Currencies that are positively correlated with Polkadot indicate that the movement of one has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with Polkadot, a move in one direction for Polkadot would translate into a move in the opposite direction for the negatively correlated coin.

To get a better idea of what could happen to the Polkadot price in the future, it’s helpful to also explore Polkadot’s price history. In the last month, the DOT/USD pair is down .

Polkadot Price Analysis

How to read and predict Polkadot price movements?

Polkadot traders use a variety of tools to try and determine the direction in which the DOT market is likely to head next. These tools can roughly be divided into indicators and chart patterns. When trying to predict the Polkadot price, traders also try to identify important support and resistance levels, which can give an indication of when a downtrend is likely to slow down and when an uptrend is likely to stall.

Polkadot Price Prediction Indicators

Moving averages are among the most popular Polkadot price prediction tools. As the name suggests, a moving average provides the average closing price for DOT over a selected time frame, which is divided into a number of periods of the same length. For example, a 12-day simple moving average for DOT is a sum of DOT’s closing prices over the last 12 days which is then divided by 12.

In addition to the simple moving average (SMA), traders also use another type of moving average called the exponential moving average (EMA). The EMA gives more weight to more recent prices, and therefore reacts more quickly to recent price action.

50-day, 100-day and 200-day moving averages are among the most commonly used indicators in the crypto market to identify important resistance and support levels. If the DOT price moves above any of these averages, it is generally seen as a bullish sign for Polkadot. Conversely, a drop below an important moving average is usually a sign of weakness in the DOT market.

Traders also like to use the RSI and Fibonacci retracement level indicators to try and ascertain the future direction of the DOT price.

How to read Polkadot charts and predict price movements?

Most traders use candlestick charts, as they provide more information than a simple line chart. Traders can view candlesticks that represent the price action of Polkadot with different granularity – for example, you could choose a 5-minute candlestick chart for extremely short-term price action or choose a weekly candlestick chart to identify long-terms trends. 1-hour, 4-hour and 1-day candlestick charts are among the most popular.

Let’s use a 1-hour candlestick chart as an example of how this type of price chart gives us information about opening and closing prices. The chart is divided into “candles” that give us information about Polkadot’s price action in 1-hour chunks. Each candlestick will display DOT’s opening price, closing price, as well as the highest and lowest prices that Polkadot reached within the 1-hour period.

It’s also important to pay attention to the color of the candle – a green candle means that the closing price was higher than the opening price, while a red candle tells us the opposite. Some charts will use hollow and filled candlestick bodies instead of colors to represent the same thing.

What affects the price of Polkadot?

Just like with any other asset, the price action of Polkadot is driven by supply and demand. These dynamics can be influenced by fundamental events such as block reward halvings, hard forks or new protocol updates. Regulations, adoption by companies and governments, cryptocurrency exchange hacks, and other real-world events can also affect the price of DOT. The market capitalization of Polkadot can change significantly in a short period of time.

When trying to make a Polkadot forecast, many traders also try to monitor the activity of DOT “whales”, which are entities and individuals that control large amounts of DOT. Since the Polkadot market is relatively small compared to traditional markets, “whales” can single-handedly have a big influence on Polkadot’s price movements.

Bullish and bearish price prediction patterns

Some traders try to identify candlestick patterns when making cryptocurrency price predictions to try and get an edge over the competition. Some candlestick formations are seen as likely to forecast bullish price action, while others are seen as bearish.