DOT/USD quotes are trading at 20.87 and continue to move within the growth and bullish channel. The capitalization of the Polkadot cryptocurrency at the time of the publication of the forecast is $20,542,548,079. Moving averages indicate a short-term bullish trend for Polkadot. Prices went up from the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the rise from the current levels. At the moment, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 19.85 area. Where can we expect a rebound again and a continuation of the rise in the Polkadot rate with a potential target above the level of 24.05.
Polkadot Forecast and Analysis DOT/USD August 11, 2021
In favor of the growth of DOT/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 17.55 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the level of 15.05. With the breakdown of the resistance area and closing of quotations above the level of 21.35, we should expect confirmation of the development of the bullish trend in Polkadot.
Polkadot Forecast and Analysis DOT/USD August 11, 2021 suggests an attempt to correct and test the support area near the level of 19.85. Where can we expect a rebound and continued growth of DOT/USD to the area above the level of 24.05. An additional signal in favor of the rise of Polkadot will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 17.55 area. This will indicate a continued decline in cryptocurrency with a target below 15.05.
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