Polkadot (DOT) Price Skyrockets Past $7: What’s the Next Target for Crypto Investors?

• Polkadot, a popular cryptocurrency, is currently in a state of consolidation, hovering around the pivotal 200-day moving average and the $6.3 mark.
• There is potential for a decline towards the $5.1 threshold if the cryptocurrency breaches below this crucial support area.
• Technical and sentiment analysis provide insights into possible future movements of Polkadot’s price.

Explore the current state of Polkadot and its potential future trajectory through an in-depth technical and sentiment analysis. Understand the factors influencing Polkadot’s price and what the future might hold.

Technical Analysis of Polkadot

Polkadot’s daily chart reveals a period of uncertainty and sideways consolidation near the critical $6.3 support level and the 200-day moving average. The price has formed an ascending wedge pattern, a bearish continuation pattern, hinting at potential seller dominance in the market. If sellers successfully breach the wedge’s lower boundary, a significant downtrend towards the crucial $5.... Read the full article for FREE at COINOTAG!