Polkadot Price Prediction-dot Price Retests Support Levels For A $30 Target?

By Author: Mohd Haseeb
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Fundamental Analysis
Polkadot is one of the most pioneering projects based on a multi-chain framework that can be a competitor. It aims at providing the most advanced peer-to-peer network for numerous blockchains. The DOT network aims for a Strong interoperability approach with the circulation of its tokens. And thereby, it also introduced a shared security of relay chain & parachains that was believed to outperform Ethereum. Soon Polkadot emerged as a Performant shared network in the market, providing multiple use cases. With its Sophisticated governance process, the Easy blockchain setup was possible!

After conducting an ICO in 2017, Polkadot launched an experimental and unaudited version called ‘Kusama’ in 2019 and recently, in May 2020, the Polkadot mainnet was launched. The network’s official site quotes that DOT intends three main purposes- governance over the network, staking and bonding. In September 2020, a sudden spike in the market capitalization made the token enter the top 10 cryptocurrency list.

Polkadot Price Prediction 2021
With a bullish run DOT initiated the year 2021 ...
... with a trading price of $9.12 at the dawn of January. With certain variations, the currency started to surge further.

Following this, DOT put all measures targeting its $50 juncture. It reached $42.98 by Mid May. However, it fell into a bearish trap on May 19, when the entire market collapsed and lost almost 50%. Resuming the trade, it began surging gradually from this point, currently moving at $14 mark.

DOT has been retesting the support level at $14.73 for the third time this week, after which it has been rafting high to $16.55. Currently, hitting back to the support margin, the price is expected to rise parring the pattern again. In such a case, pulling the socks up at the resistance of $16.70 can help the price to soar further.

Polkadot Price Prediction 2022
If the altcoin manages to close on a maximum standpoint, then it may resume the trade for 2022 on a bullish note. In that case, it may begin trading at $28.161 . On the other hand, if the DOT price stumbles at the end of the year, it may start trading near $5.907 as 2022 commences.

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