Polkadot Price Prediction for Today, October 31

Polkadot Price Prediction for Today, October 31 – DOT Technical Analysis

Updated: 31 October 2023

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The Polkadot price prediction reveals that DOT records a gain of 2.78%, as the coin approaches the $5.00 resistance level.

Polkadot Prediction Statistics Data:

Polkadot price now – $4.44
Polkadot market cap – $5.75 billion
Polkadot circulating supply – 1.30 billion
Polkadot total supply – 1.37 billion
Polkadot Coinmarketcap ranking – #14

DOT/USD Market

Key Levels:

Resistance levels: $5.00, $5.20, $5.40

Support levels: $3.80, $3.60, $3.40

Polkadot Price Prediction for Today, October 31 – DOT Technical Analysis — DOTUSD – Daily Chart

DOT/USD is trading above the 9-day and 21-day moving averages with a gain of 2.78%. According to the daily chart, the previous candle formations have been respecting upward movement but crossing below the moving averages may position the market price in a decline. Meanwhile, the closest support level is located at the $4.23 level while a north wave might see a high movement above the upper boundary of the channel.

Polkadot Price Prediction: Polkadot Price May Head to the North

The Polkadot price is heading toward the upside, an increase above the channel could trigger intense buying to the resistance levels of $5.00, $5.20, and $5.40. On the contrary, the Polkadot price may need to hold the support level at $4.23 which is the current daily low. But, if the Polkadot price drops below this support level, it may likely hit another support at $4.00.

Meanwhile, if the selling volume steps into the market, it could dip to the support levels of $3.80, $3.60, and $3.40. Moreover, the 9-day moving average is above the 21-day moving average which reveals that the market could face the north.

DOT/BTC Begins the Bullish Movement

Against Bitcoin, the Polkadot price is likely to cross above the 21-day moving average to continue the bullish movement within the channel. From the upside, the potential resistance level could be located at 1450 SAT and above as bulls dominate the market.

However, looking at the downside; the nearest level of support could be found at 1200 SAT, if the price drops further to create a new low, lower support could be found at 1130 SAT and below. Meanwhile, the 9-day MA is likely to cross above the 21-day MA, which means that the market may begin to follow the upward movement.

Alternatives to Polkadot

The Polkadot price has been facing the upside since the beginning of the European session, the coin is hovering above the 9-day and 21-day moving averages which could touch another resistance level of $4.80. However, DOT/USD may cross above the upper boundary of the channel if the buyers increase the buying pressure.

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