Polkadot Price Prediction: 2024, 2025, 2030

DOT price prediction: Key highlights

 

1. Primary support and resistance levels

• On the weekly timeframe, the lowest support level was revealed to be around $3.96, with the highest resistance level estimated at around the $11.91 mark.

2. Market sentiment

• The overall market sentiment is seen to be slightly bearish in April 2024.

3. Predictive forecasts

• Based on our AI/ML predictive models, the forecasted average price of DOT for the year 2032 is projected to be over $16.67, further soaring to over $25.77 in 2035.

Given below is a comprehensive weekly technical analysis of DOT, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

 

DOT technical analysis: Altcoin to undergo a trend reversal?

 

The Polkadot price prediction for 2024 is largely influenced by its historical price actions and broader market dynamics, including investor activity and general sentiment within the cryptocurrency sector.

 

The review period for DOT began with its price testing the $6.63 resistance level early in April 2023. This level initially proved too strong for the bulls, and a rejection here led to a steady decline in the price. 

 

By June, DOT had fallen below the support level of $5.26, reflecting a bearish dominance in the market. The bulls’ attempts to reverse the downtrend were short-lived. Furthermore, by October, DOT had declined to a new low at $3.96.

 

Mid-October marked a turning point for DOT as bullish forces began to strengthen, driving a significant price recovery. This rally saw DOT overcome several key resistance levels despite a minor setback in mid-November. The momentum continued unabated, and by the close of 2023, DOT aimed to touch the peak of $9.73—its highest resistance level for the year.

 

The new year brought a shift in market dynamics. January saw DOT’s price retract from its late 2023 highs, descending to stabilize just above the previously contested $6.63 level. 

 

However, this retracement was followed by a renewed bullish wave starting in February, which once again lifted DOT to successfully touch the $9.73 level by March. Nevertheless, this rally could not be sustained, and a pronounced bearish movement took over, driving the price back down to $6.63 by April.

 

At the time of writing, DOT was trading at $6.64, a slight recovery from its recent low. According to CoinMarketCap, the token witnessed a 40% decline in prices over the past month alone. If the bears take over, DOT may plunge further to touch $5.26 within the next few weeks. 

 

The asset has also been hovering really close to its all-time low (ATL). If the bears sustain the rally, DOT may fall below the lowest support level at $3.96 within the upcoming months to touch its ATL at $2.69 for the first time since 2020.
 

However, if the bulls manage to take over, DOT’s value is likely to surge higher, according to a recent analysis by AMBCrypto. In that case, it may touch $9.73 within a few weeks. Furthermore, if the bullish rally is sustained, DOT may even soar higher to claim the $11.91 mark, a significant level that has not been touched since 2022.
 

Despite the recent turmoil, the long-term future of this altcoin seems promising. Based on our AI/ML predictive models, the forecasted average price of DOT for the year 2032 is projected to be over $16.67. In the past, DOT had displayed a lot of potential. Hence, in case of major developmental changes that pull investors into the market, DOT may surge higher to touch $25.77 in 2035.

 

DOT’s 2024 roadmap: Key indicators to watch and trade

• At the onset of the analysis, the trading volume was significantly low. However, it began recovering by mid-October.
• Although another dip in trading volume was noticed in January, it was not sustained. In addition, it spiked again in February. At the time of writing, DOT’s trading volume had plunged slightly from its highs, but it did not stoop to its previous lows.
• As the analysis period commenced, the Bollinger Bands were quite contracted. However, the bands began expanding by December, pointing towards a volatile market.
• During December and March, the price candles had gone beyond the upper band. This signified that the asset was overvalued. 
• By May, the price candles fell below the 20-day moving average (MA) and continued on this path until the early weeks of November when the candles surpassed the 20 MA line. At the time of writing, the price of candles had recently dipped below the 20 MA line. Moreover, DOT was undergoing the corrective pullback that led to its plunge below the 20 MA.
• The Moving Average Convergence Divergence (MACD) line and signal line remained below the neutral line for most parts of 2023. After constant fluctuations, the MACD line went over the signal line in mid-October. While the MACD line managed to go above the neutral line during November, the signal line surpassed the neutral line in December.
• After a constant ascent, the MACD line finally began to plunge in April. At press time, the MACD line (valued at 0.620) had deviated in a downward trajectory from the signal line (valued at 0.834).