Dot Price Prediction: Is Polkadot Price Likely to Hit $10

Summary:

Polkadot is up by 3 per cent in today’s trading session, making it the third consecutive day that prices are rising in the markets.

Polkadot is up by 3 per cent in today’s trading session, making it the third consecutive day that prices are rising in the markets.

Polkadot Price Action

In July, Polkadot had one of its months, gaining 22 per cent. Throughout the month, Polkadot’s price showed resilience and was, in most trading sessions, it was in a strong and aggressive bullish move. However, the crypto did not perform in the previous month, For instance, in June, Polkadot prices dropped by 31 per cent, and extended the May price drop of 28 per cent and the April price drop of 32 per cent.

In August, the price started strongly in the early hours of the first trading session, with prices piercing through the $8,8 resistance level. However, as the session progressed, the prices failed to break to the upside and instead returned below the resistance level. The move triggered a 14 per cent price drop in two days.

However, since August 3, the prices have traded aggressively bullish, with today marking the third consecutive day we see a bullish move. The surge in price has resulted in an 8 per cent price gain in the markets.

Dot Price Prediction

Since July 13, Polkadot has risen by 40 per cent. In today’s trading session, the prices are up by 6 per cent, extending the long-term bullish trend and marking the third consecutive day that prices are going up.

Looking at the current price action, Polkadot also looks to have momentum and is likely to continue with the same trajectory for the next few trading sessions. Therefore, my Polkadot price prediction expects the price to continue going up. There is a high likelihood that we will see it trading above the $8.8 resistance level and, in a few sessions, trading above the $10 psychological level.

However, should the prices trade below yesterday’s price low of $7.8, my bullish analysis will be invalidated. It will also mean that the bullish trend has ended.