Polkadot (DOT) has finally managed to stop its prolonged correction. The price appeared to have settled a bit after bottoming at around $7.35. DOT now has a good opportunity to reverse the downtrend and could rally significantly despite growing uncertainty in the market. Here are some points:<\/p>\n

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DOT is testing the $10 which could be significant in any bull run<\/p>\n<\/li>\n
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It\u2019s the first time the coin has reported gains after 4 days of retreat<\/p>\n<\/li>\n
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Crossing the $10 could trigger a rally towards $13 or thereabout<\/p>\n<\/li>\n<\/ul>\n
Data Source: TradingView\u00a0<\/em><\/p>\n
Polkadot price analysis and prediction<\/h2>\n
The most important thing for DOT bulls is that the downtrend appears to have slowed. The coin had reported losses in 4 straight sessions, and there were fears it could actually fall below $5 for the first time this year. But it seems the price action started to consolidate at around $7.35.\u00a0<\/p>\n
Eventually, DOT was able to trigger a run and is now trying to cross above $10. If indeed this happens, we could see the token rally towards $13 or beyond. This will represent an upswing of around $30 from this price. However, despite this bullish outlook, there are still several uncertainties in the market.<\/p>\n
For example, we have not seen enough trading volume to suggest DOT is going bullish. It is possible that DOT may in fact get rejected at the $10. This will push it downwards toward its previous bottom price of $7.35. But if bulls are not able to keep the price above $7.35, there will be more downside to come.<\/p>\n
How to trade DOT in this setup?<\/h2>\n
The first entry would be above $10. If DOT is able to cross above this price, then you can buy and exit at $13.\u00a0<\/p>\n
However, if the price action remains suppressed below $10, then wait for it to bottom at around $7 before you buy. But there is a risk that a drop towards $7 could continue until DOT hits $5.<\/p>\n<\/p><\/div>\n

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Polkadot (DOT) has finally managed to stop its prolonged correction. The price appeared to have settled a bit after bottoming at around $7.35. DOT now has a good opportunity to reverse the downtrend and could rally significantly despite growing uncertainty in the market. Here are some points: DOT is testing the $10 which could be […]<\/p>\n","protected":false},"author":1,"featured_media":27535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[600,69,822,601,2884],"class_list":{"0":"post-27534","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market","8":"tag-bull","9":"tag-hit","10":"tag-polkadot","11":"tag-run","12":"tag-uncertainty"},"_links":{"self":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/27534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/comments?post=27534"}],"version-history":[{"count":0,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/27534\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media\/27535"}],"wp:attachment":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media?parent=27534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/categories?post=27534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/tags?post=27534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}