Polkadot Price Prediction for Today, November 1: DOT/USD May Trend Higher

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The Polkadot price prediction reveals that DOT records a gain of 1.06%, as the coin approaches the $7.0 level.

Polkadot Prediction Statistics Data:

  • Polkadot price now – $6.70
  • Polkadot market cap – $7.5 billion
  • Polkadot circulating supply – 1.13 billion
  • Polkadot total supply – 1.2 billion
  • Polkadot Coinmarketcap ranking – #12

DOT/USD Market

Key Levels:

Resistance levels: $8.0, $8.5, $9.0

Support levels: $5.5, $5.0, $4.5

DOT/USD is trading above the 9-day and 21-day moving averages with a gain of 1.06%. According to the daily chart, the previous candle formations have been respecting upward movement but crossing below the 9-day and 21-day moving averages may position the market price in a decline. Meanwhile, the closest support level is located at the $6.5 level while a north wave might see a high movement above the upper boundary of the channel.

Polkadot Price Prediction: Polkadot Price May Head to the North

According to the daily chart, the Polkadot price is heading toward the upside, an increase above the channel could trigger intense buying to the resistance levels of $8.0, $8.5, and $9.0. On the contrary, the Polkadot price may need to hold the support level at $6.6 which is the current daily low. But, if the Polkadot price drops below this support level, it may likely hit another support at $6.5.

Meanwhile, if the selling volume steps into the market, it could dip to $5.5, $5.0, and $4.5 supports. More so, the technical indicator Relative Strength Index (14) reveals that the market faces the north as the signal line moves above the 60-level.

When compares with Bitcoin, the buyers are attempting to step back into the market as the coin trades above the 9-day and 21-day moving averages. From the upside, the potential resistance level could be located at 3700 SAT and above as the technical indicator Relative Strength Index (14) crosses above the 50-level.

DOTBTC – Daily Chart

Therefore, looking at the downside; the nearest level of support is 3100 SAT, if the price drops further to create a new low, lower support could be found at 3000 SAT and below. In addition, the 9-day MA is crossing above the 21-day MA, which means that the market may begin to follow the upward movement.

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