The idea that 2022 could give Polkadot more runway ahead of it as momentum for DOT continues to build will be examined at length in this Polkadot price prediction. While the 300% return made in 2021 is certainly the reason for bullish DOT price prediction, we’ll explore bearish scenarios as well.
Polkadot was on a fantastic run in 2021, becoming a member of the crème de la crème of the crypto market, edging out older, more established blockchains like Litecoin, Tron, and Stellar. Moving forward, Polkadot looks ready to retake the crypto spotlight in 2022.
Polkadot Price Prediction | Introduction
At the time of making this DOT price prediction, Polkadot’s crypto price traded at $26.67, according to CoinMarketCap. The market cap of the Polkadot network at a price was over $26 billion, fully diluted to nearly $29 billion.
Polkadot processes a remarkable 1000 transactions per second, compared to just 15 to 30 transactions per second on the Ethereum network. This transactional throughput comes at a significantly cheaper cost than Ethereum’s solution as well.
Amazing projects are also coming to the Polkadot blockchain, where the number of developers working on the blockchain exploded to 10,000 from 2,600 at the start of 2021. The network has a lot to juggle, but from the onset, a bullish Polkadot price prediction looks justified.
Polkadot Price Prediction: Technical Analysis
A run from $4 to $55 seemed to make DOT token a lucrative bet for investors. Looking back at the key moments that defined this explosive rise, we can filter through the noise to arrive at the most likely DOT price prediction. Here is a summary of Polkadot crypto price history:
|Month||Open Price||Closing Price||Month High|
Polkadot crypto price has witnessed a tight consolidation around vital support level for roughly four weeks. This consolidation is its final stage, and the DOT token might get a bottom reversal pattern triggered by bullish actors fuelling a small bull rally.
DOT has been retesting the $29.86 support level for roughly a month and has recently set up a small range below it. December’s low at $24.27 could be a base for DOT to form a potential double bottom setup.
For now, the Polkadot crypto price needs another tap around this December swing low to complete the technical formation. So, investors should watch for a retest of $24.27 or $25. A retest of either of these levels will allow DOT to kick-start an ascent to $44.37 and the buy-stop liquidity resting above.
Even though there are many minor retracements around this level, the state of the market will determine the next course of action for DOT. If the big cryptos continue to head higher, Polkadot crypto will follow suit.
In which case, DOT needs to flip the $37.72 hurdle into a support floor. This development will allow DOT coin to extend its rally to $50 or $52.22. If DOT sets up a swing high around $52.22, it will constitute a 43% gain from the support floor.
On the other hand, if the Polkadot crypto price fails to hold above the December low, it could indicate that the bears are in control. A daily close below this level will invalidate the bullish DOT price prediction. In this situation, the DOT price could head lower to retest $24. 27 support floor.
Polkadot Price Prediction: Market Opinions
From the technical analysis above, it is clear that DOT token has reached a crossroads that could define its future. Moving forward, trading volumes will determine the price action DOT makes in 2022.
This Polkadot price prediction will not be complete without considering the opinion and sentiments of popular cryptocurrency forecasting systems and trading influencers. Here are some reliable DOT price sentiments.
Polkadot Price Forecast for January – February
TradingBeast DOT price prediction has DOT price consolidating after a swing recovery from the December low. This Polkadot price forecast for January – February expects DOT could set up a leg up higher high and validate the bullish narrative following a test of $27.79 level in early 2022.
Long Forecast predicts DOT price will move past its recent swing high to set up higher highs in its Polkadot price forecast for January – February. The forecast hints that a minor and brief downswing might be on the horizon, but the short-term outlook is bullish at $33.93.
Polkadot Price Forecast for the Rest of the Year
WalletInvestor hints Polkadot’s crypto price will attempt to push through and produce a test of $53.75 and higher. Dot price has remained in a lull in December, and, according to this Polkadot price forecast for the rest of the year, could provide the platform for a steady uptick.
DigitalCoin Polkadot’s price forecast for the rest of the year identifies a buying opportunity before the buyers make a comeback and trigger a major upswing. Investors need to pay close attention to vital levels above $45, as DOT is primed to test $68.84.
Polkadot Price Forecast for the Next Year
PricePrediction Polkadot price forecast for the nest years shows DOT has support, suggesting a bullish outcome is around the corner, eyeing $38.68 and $39.84. The setup serves as a perfect combination to kick-start an upswing that could test $49.23.
Gov.Capital identifies signs of a sustained recovery as bulls defend a crucial support level, forming a massive bullish building that will send DOT to $134.57 within a year. According to this Polkadot price forecast for the next year, such a development could trigger a run-up to set up a new all-time high.
Cryptocurrency Experts and Influencers
Villy Polkadot price prediction charts an exponential rally for weeks that comes close to retesting its all-time high, eyeing $95. This run-up is a perfect example of a liquidity run and is in preparation for the next leg-up that will set up Polkadot crypto price for new highs in 2022.
Watcher.Guru DOT’s price prediction hints Polkadot is preparing for a bullish leg-up as the bearish momentum looks ready to disappear. The forecast has DOT following suit to BTC price rallies, suggesting a price target of $100 in a year.
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Latest News and Happenings Concerning Polkadot
Polkadot is revamping its blockchain for Decentralized Finance (DeFi). By 2021, microfinance transactions have emerged as the next frontier for blockchain, and Polkadot is dressing ups its DeFi tool – Dot Finance for launch on Kusama blockchain as well and moving away from BSC.
The move from the Binance Smart Chain allows Dot Finance to automate and enhance its rewards program. That means speakers can earn fees for DeFi products and services that include lending, borrowing, and trading.
Smart contracts govern and operate the DeFi services and products. Dot Finance is on a growth trajectory thanks to yielding aggregation products on Moonbeam. The goal in 2022 is to build a resilient infrastructure that will champion the adoption of Polkadot and reduce barriers to participation.
Already, Polkadot is facing fierce competition from networks like Solana and Avalanche, which both process greater transactions several times greater than Polkadot. It remains for Polkadot to diversify into other applications for its blockchain to enhance a bullish Polkadot price prediction.
Going into 2022, Polkadot looks to bring more Parachain slots going live. The network will also launch decentralized bridges to connect to the Kusama ecosystem and later bring more blockchains, including Snowfork and Ethereum. An important factor is Ethereum price prediction.
Will Polkadot Go Up or Down?
Up. With the flurry of development and interesting projects on the network and the potential for growing institutional interest, investors have plenty of reason to stay bullish.
Can the Polkadot Coin Reach $100?
Yes. The Polkadot price prediction that targets $100 argues that Polkadot’s crypto price is at a crucial tipping point in its evolution with the potential to trigger a massive volatile move triggered by broader market surges.
Is Polkadot a Good Investment?
Yes. Following an in-depth study of Polkadot crypto, this DOT price prediction determines DOT to be a solid buy for investors looking for more crypto with stronger, more consistent value growth and better crypto technicals.
Polkadot Price Prediction: Verdict
When every reliable Polkadot price prediction talks about bullish outcomes, it pays to listen. After all, Polkadot has a history of great returns, increasing more than 300% in 2021 alone, and the fundamentals of the network continue to get strong.
Note: This post was originally published on 15 June 2021 and has been totally updated for the completeness and veracity of the content on 14 January 2022.
Featured image: exchangerates.org.uk
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