Will DOT Price Regain $5 in September?

Polkadot price prediction remains bullish and suggests a significant rise is possible in the coming months. DOT price is trading near to its long-term demand zone and buyers are trying their best to rebound. 

DOT price is below the 50-day EMA and 200-day EMA. It showcases the short-term trend as well as the positional trend in the downward direction. However, bulls are trying to regain the 50-day EMA, so if they succeed then a bullish trend reversal might be visible. 

In mid-August, Polkadot crypto price broke the $5.00 support which triggered the negative sentiment. Later, prices fell with a high selling volume and eroded the complete gains generated in the past few months. 

Presently, Polkadot price is consolidating in a narrow range between $4.200 to $4.700. If it continues to consolidate, then it might be a sign of base formation. 

Polkadot price is trading at $4.579 with an intraday decline of -0.67. The 24-hour volume to market cap is 2.08%. The pair of DOT/BTC is trading at 0.0001759 with an intraday decline of -0.23%.

Will Polkadot Price Defend the Yearly Low?

Polkadot price prediction favors the bulls and suggests a pullback rally is possible till it holds the $4.212 level. The crypto leader BTC and ETH price is recovering so it might positively impact the prices in the upcoming months. 

DOT price displayed a bullish hammer candle near $4.300 and showed a minor bounce. It indicates buyers are active and downside risk looks limited. 

Till Polkadot crypto price sustains above the $4.200 support, the possibility of recovery remains high. However, the prices will gain momentum when buyers are able to regain the $5.00 mark.

DOT Price Remains Bullish for September

DOT price prediction for September is bullish. However, prices are trading below the 50-day EMA. Any short-term pullback will face difficulty in holding the higher levels. 

However, if the buyers succeed in breaking out of the $5.00 hurdle, then 10% to 20% more upside will open. 

The MACD curve in Polkadot crypto has generated a fresh positive crossover. It shows that buyers are active and returning back to track. The RSI at 41 reverses upward from oversold territory and may reach the neutral zone. 

Conclusion

Polkadot price prediction remains bullish till it holds the $4.212 level. The recent fall in the DOT crypto is due to external factors. So, if the overall crypto market recovers, then it might positively impact DOT and the probability of reaching $5.00 will increase.

Technical Levels

• Resistance levels: $5.689 and $5.079
• Support levels: $4.212 and $4.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing

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