- The Polkadot price closed the previous day’s trade at $16.99 with a market capitalization of $16.99 billion and a circulating supply of 987,579,314.96 DOT
- DOT price is failing, again and again, to rise above the descending trend, and with the continued downtrend, the asset may plunge below 15 and eventually 10
Polkadot Price Prediction: Will DOT Price Hit $50 in 2022?
Polkadot price maintained a notable uptrend since the beginning and amid the bull run 2021, ranged extremely high by nearly 10 times. However, ever since it marked its highs above $56, the asset depleted drastically and continues to find lower lows. Currently, it has broken a crucial support zone where-in a recovery does not appear so easy for the asset. Yet, the market sentiments are also extremely uncertain and hence a trend reversal may be a pretty tedious job.
If in case the DOT price continues to swing at the same pace, then the price may continue to discover lower lows till the end of Q1. Yet a significant flip may be expected since the beginning of Q2, until then the traders may wait for a good buying opportunity. Further maintaining a slow and steady rally, the DOT price may initially secure its positions above $22 to $25 resistance levels. And with a beginning of a notable bull rally, the DOT price could gain huge bullish momentum and range high to test the levels in between $40 to $45 by the end of 2022.
Whenever the asset tries to reach higher levels, the bears tend to squeeze out the profits soon. And hence if the bear gets into the action, they may try to restrict the price to between $35 to $37, by the end of 2022. However, it may after the asset surges high close to $50, where-in a notable amount of sellers are expected to extract their profits.
Polkadot Price Analysis: How High Will DOT Crypto Price Go in March 2022?
DOT price’s recent attempt to flip from the bearish trend has gone in vain as the asset maintains a descending trend. While the selling pressure has mounted to a large extent, no strong possibilities of a flip may be expected throughout the week. However, the immediate support is around $14.57 which may be tested very soon.
Here one can expect a significant bounce, but the asset may be restricted to $17.29 levels yet again. Nevertheless, DOT price may continue to test these support-flipped-resistance levels constantly until it surpasses. With an induced buying volume, the asset may also test $20 in the upcoming days. The bulls need to be very cautious here, as the bears may become active at $20. However, if these levels are sustained, then a strong uptrend may be validated which may uplift the price above $22 by the end of March 2022.
Additional Read: Solana vs Polkadot
Polkadot Price Analysis: DOTPrice Table (Last 30 Days)
|Date||All-Time High||All-Time Low||Market Capitalization|
|06 March 2022||$17.59||$16.51||$16.99B|
|05 March 2022||$17.8||$16.2||$17.11B|
|04 March 2022||$18.05||$16.49||$16.93B|
|03 March 2022||$18.67||$17.79||$17.85B|
|02 March 2022||$19.28||$18.37||$18.22B|
|01 March 2022||$19.61||$18.34||$18.33B|
|28 February 2022||$19.10||$16.66||$17.47B|
|27 February 2022||$18.72||$17.10||$17.72B|
|26 February 2022||$18.76||$17.19||$17.86B|
|25 February 2022||$17.52||$15.79||$15.98B|
|24 February 2022||$16.71||$14.09||$14.75B|
|23 February 2022||$17.52||$15.92||$16.29B|
|22 February 2022||$16.70||$15.79||$16.29B|
|21 February 2022||$17.74||$16.03||$16.38B|
|20 February 2022||$17.88||$16.71||$16.78B|
|19 February 2022||$18.24||$17.36||$17.63B|
|18 February 2022||$18.61||$17.64||$17.66B|
|17 February 2022||$20.03||$17.84||$18.29B|
|16 February 2022||$20.21||$19.09||$19.06B|
|15 February 2022||$20.35||$18.66||$19.65B|
|14 February 2022||$18.92||$18.04||$18.49B|
|13 February 2022||$19.28||$18.40||$18.70B|
|12 February 2022||$19.57||$18.53||$18.96B|
|11 February 2022||$20.79||$18.84||$20.10B|
|10 February 2022||$22.63||$20.59||$21.09B|
|09 February 2022||$22.26||$21.07||$21.72B|
|08 February 2022||$23.18||$21.09||$20.98B|
|07 February 2022||$22.70||$21.43||$22.25B|
|06 February 2022||$21.95||$20.88||$20.86B|
|05 February 2022||$22.29||$20.33||$21.16B|
|04 February 2022||$20.56||$18.74||$19.89B|
|03 February 2022||$18.94||$18.02||$18.29B|
|02 February 2022||$20.58||$18.60||$19.13B|
|01 February 2022||$20.02||$19.18||$19.52B|
Polkadot Price Prediction: DOT Price Trend Comparison with ADA & SOL (Last 30 Days)
Polkadot, Cardano, and Solana work on their respective blockchains but all intend to address the issues with the Ethereum blockchain. All the 3 blockchains claim themselves to be Ethereum killers and aim to replace the second largest crypto in the future. However, Ethereum, despite slow transactions, congestion, and high gas fees, remains the leader of the DeFi space. But still, Polkadot, Cardano, and Solana have created their significance with the DeFi space.
The price trends of the 3 assets appear to be almost equivalent since the beginning of 2022. The surges and plunges all went hand in hand, and eventually, a tough competition between Cardano and Polkadot is seen at present. Both are almost equidistant from the average levels and are attempting hard to outperform each other. Solana remains off the track with a large margin.
At the express time, Polkadot is 36.71% away from the average levels whereas Cardano is 35.54%. On the other hand, Solana remains more than 48% away, showcasing huge deviations. Interestingly, all the three assets are trending with a descending trend, weather-in each attempt of a flip is going in vain. Therefore, until market sentiments display a diverse trend, no strong flip may be expected at once.
Additional Reads: Polkadot (DOT) Technical Analysis
Correlation of DOT/USDT and DOT/BTC (Last 30 Days)
Similar to many tokens, the DOT price traded with the BTC pair is appearing stronger than the USDT pair. The steep plunges are recorded with both the pairs but the USDT pair recorded a significant recovery. Yet the DOT/BTC does not drop as USDT and therefore remains in a pretty strong position. The DOT/USDT pair is almost 35.87% below the average levels, whereas DOT/BTC remains away by nearly 23.72% at the press time.
Additional Read: Top Crypto News Today, 7 March 2022.
Polkadot Price Prediction 2022: Latest DOT coin News in February-March 2022
Polkadot Motion 158 Passes Paving Way for the Auctions Throughout the Year!
Polkadot council voted and passed motion 158 which is the Polkadot’s Auction Timetable for the rest of the year 2022.
Polkadot Announces one of the Biggest Event- Polkadot Decoded
Polkadot announces a large event where-in they are inviting the Polkadot builders and community members to submit ideas for an in-person presentation or workshop which will be then voted on by the community. The last date to submit the proposal is 14 March, whereas the event will be held on June, 29th-30th 2022.
Source: Polkadot Blog
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