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Polkadot Price Prediction for Today, June 7: DOT Stagnant Below $40 Level

Polkadot Price Prediction
Polkadot Price Prediction

The Polkadot price prediction may find a halt at the support level of $9 as the price is down by 4.93% over the last 24 hours.

Polkadot Prediction Statistics Data:

  • Polkadot price now – $9.02
  • Polkadot market cap – $9.0 billion
  • Polkadot circulating supply – 987.5 million
  • Polkadot total supply – 1.1 billion
  • Polkadot Coinmarketcap ranking – #11

DOT/USD Market

Key Levels:

Resistance levels: $14, $15, $16

Support levels: $4, $3, $2

DOT/USD price may continue to drop further lower if the coin finds support at the $8 level. However, during the European session, DOT/USD tried to cross above the 9-day and 21-day moving averages before falling back below the $9 level. At the moment, if the bears continue to push the market further lower, the immediate support below the $8 level may be located. Beneath this, further supports may be found at $4, $3, and $2 respectively.

Polkadot Price Prediction: DOT Price May Cross to the Downside

As the daily chart reveals, if the buyers can hold the support at $9 and the Polkadot price begins to climb higher, bulls may expect immediate resistance to be located at $12, which is above the 9-day and 21-day moving averages. However, moving a little bit higher may locate the higher resistance levels at $14, $15, and $16. Meanwhile, the technical indicator Relative Strength Index (14) is seen moving below the 40-level, which shows that the market may follow the bearish movement.

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DOT/BTC Market: Price Keeps Following the Downtrend

Against Bitcoin, the Polkadot is trading below the 9-day and 21-day moving averages. Therefore, in as much as the price actions remain below this barrier, Polkadot may perpetually be under the control of a bear. Meanwhile, traders need more strong and more consistent resistance to keep the price from the bear run.

DOTBTC – Daily Chart

However, with the current movement in the daily chart, if the price crosses above the 9-day and 21-day moving averages, it may likely reach the potential resistance level at 3700 SAT and above. On the contrary, if the market price heads towards the lower boundary of the channel, it may likely hit the critical support at 2500 SAT and below as the technical indicator Relative Strength Index (14) remains below the 40-level.

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