📌 Market overview
Current price: $5.18
24h volatility: +3.24%
Highest price of the day: $5.34
Lowest price of the day: $5.00
Market cap: Data unavailable
24h trading volume: Data unavailable
All-time high (ATH): $53.31 (November 2021)
Polkadot is experiencing strong growth, with prices rising over 3% in the past 24 hours. This momentum is driven by increasing interest from investors and positive news from the market.
📈 Technical analysis
Nearby resistance: $5.47, $5.63, $5.95
Strong support: $4.98, $4.66, $4.50
RSI (4H): Near 70 – overbought zone
MACD: Trending towards a bullish crossover
50-day SMA: Expected to reach $5.00 by May 15, 2025
200-day SMA: Expected to reach $4.80 by May 15, 2025
The 4-hour chart shows DOT in a strong uptrend, with technical indicators supporting this upward momentum. However, the high RSI indicates caution regarding the possibility of a short-term correction.
📊 Trading strategy
Scenario 1 – Open Long position
Reason for entry: Price broke through resistance at $5.00 with strong trading volume, confirming the uptrend.
Entry zone: $5.00 – $5.10
Stop-loss (SL): $4.85 (Below the nearest support)
Take-profit 1 (TP1): $5.50
Take-profit 2 (TP2): $6.00
Probability of success: 75% (Based on technical signals and strong inflows)
Scenario 2 – Open Short positionReason for entry: Price could not sustain above $5.50 and shows signs of a downward reversal.
Entry zone: $5.50 – $5.60
Stop-loss (SL): $5.70 (Above the nearest resistance)
Take-profit 1 (TP1): $5.20
Take-profit 2 (TP2): $5.00
Probability of success: 65% (Based on the likelihood of correction after a strong uptrend)
Note: The market is in an exuberant state; careful risk management is needed and technical signals should be closely monitored.
📰 Featured news
SEC postpones decision on Grayscale's Polkadot ETF: The U.S. Securities and Exchange Commission (SEC) has extended the deadline for a decision on Grayscale's Polkadot ETF proposal to June 11, 2025, indicating increasing interest in DOT-related investment products.
DOT price forecast for 2025: Experts predict DOT could reach $5.79 by May 16, 2025, with strong growth potential if the current trend continues.
🔗 Trade DOT
