Polkadot (DOT) Technical Analysis: Ecosystem Needs to Revitalize
In 2020, #Polkadot , which joined the crypto ecosystem, fell far behind its competitors #AVAX✈️ , #Solana , Chainlink. However, developments and events within the network may ignite the price fuse again.
According to our $DOT price prediction, the Polkadot price is expected to increase by 2.18% and reach $5.06 by August 29, 2024.
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According to our technical indicators, the current sentiment is Neutral while the Fear and Greed Index is showing 56 (Greed). Polkadot has recorded 14/30 (47%) green days with a price volatility of 10.72% in the last 30 days.
According to August 2024, the overall price prediction sentiment is neutral with #DOT technical analysis indicators giving bullish signals while 12 technical analysis indicators giving bearish signals. #BecomeCreator
According to our technical indicators, Polkadot’s 200-day SMA will decline next month and reach $6.58 by September 23, 2024. Polkadot’s short-term 50-day SMA is forecast to reach $4.70 by September 23, 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 52.53, which suggests that the DOT market is in a neutral position.
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