{"id":7486,"date":"2021-05-07T07:16:25","date_gmt":"2021-05-07T05:16:25","guid":{"rendered":"https:\/\/thecryptowolf.net\/2021\/05\/07\/polkadot-price-prediction-dot-hints-at-minor-retracement-before-resuming-its-rally\/"},"modified":"2021-05-07T07:16:25","modified_gmt":"2021-05-07T05:16:25","slug":"polkadot-price-prediction-dot-hints-at-minor-retracement-before-resuming-its-rally","status":"publish","type":"post","link":"https:\/\/thecryptowolf.net\/2021\/05\/07\/polkadot-price-prediction-dot-hints-at-minor-retracement-before-resuming-its-rally\/","title":{"rendered":"Polkadot Price Prediction: DOT hints at minor retracement before resuming its rally"},"content":{"rendered":"<div style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/editorial.fxstreet.com\/images\/Markets\/Currencies\/Cryptocurrencies\/Polkadot\/polkadot-150x150logo-637399979978734311_Large.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Polkadot Price Prediction: DOT hints at minor retracement before resuming its rally\" title=\"Polkadot Price Prediction: DOT hints at minor retracement before resuming its rally\" \/><\/div><p> [ad_1]<br \/>\n<\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>Polkadot price faced rejection as it pierced the supply zone that extends from $42 to $44.06.<\/strong><\/li>\n<li><strong>The MRI has flashed a cycle top signal, indicating that DOT might experience a corrective phase.<\/strong><\/li>\n<li><strong>This correction could be dampened by the demand barrier that ranges from $37.90 to $41.<\/strong><\/li>\n<\/ul>\n<p>Polkadot price shows a <a href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/polkadot-price-prediction-dot-faces-mounting-overhead-pressure-slowing-its-ascent-202105030506\" target=\"_blank\" rel=\"noopener\">slowdown<\/a> in its bullish momentum that has resulted in sellers taking over. Now, a minor retracement could push DOT into a\u00a0significant support barrier.<\/p>\n<h2 class=\"fxs_headline_medium\"><strong>Polkadot price halts midway to establish a new trend<\/strong><\/h2>\n<p>On the 6-hour chart, Polkadot price showed a substantial <a href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/polkadot-price-analysis-dot-consolidates-before-30-breakout-202104082013\" target=\"_blank\" rel=\"noopener\">22% upswing<\/a> that pushed it into a supply zone that extends from $42 to $44.06. However, the sellers <a href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/polkadot-price-in-search-of-a-catalyst-as-dot-struggles-with-overhead-resistance-202104302226\" target=\"_blank\" rel=\"noopener\">overwhelmed<\/a> the buyers, which is causing DOT to slide lower.<\/p>\n<p>Contributing to this descent is the Momentum Reversal Indicator (MRI)\u2019s cycle top signal in the form of a red \u2018one\u2019 <a href=\"https:\/\/www.fxstreet.com\/rates-charts\/chart\/candlestick-patterns\" target=\"_blank\" rel=\"noopener\">candlestick<\/a>, which forecasts a one-to-four candlestick correction.\u00a0<\/p>\n<p>Going forward, investors can expect Polkadot price to dip into the demand zone that extends from $37.98 to $41.<\/p>\n<p>If DOT stays inside the ranges mentioned above, it is more than likely to continue its uptrend and take another jab at the supply barrier. A successful build of buying pressure will quickly propel Polkadot price by 20% to retest its all-time high at $48.36.<\/p>\n<p>The resistance level at $45.49 might hinder the upswing. Therefore, investors need to keep a close eye on it.<\/p>\n<p><a href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/4J2EYZjfNknKGfb4Es8W8ZtuDZzDaaSE6ZXmzl2x\/dot-637559588957201702.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" alt=\"DOT\/USDT 6-hour chart\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/4J2EYZjfNknKGfb4Es8W8ZtuDZzDaaSE6ZXmzl2x\/dot-637559588957201702.png\" style=\"width: 936px; height: 545px;\"\/><\/a><\/p>\n<p><small>DOT\/USDT 6-hour chart<\/small><\/p>\n<p>The first sign of weakness will be seen when Polkadot price slices through $38.70. A breakdown of the demand zone\u2019s lower boundary at $37.98 will invalidate the bullish scenario and lead to a minor retracement to $36.50.<\/p>\n<p>If the selling pressure continues, market participants can expect the DeFi coin to slide toward the next demand barrier\u2019s upper trend line at $34.25.<\/p>\n<\/p><\/div>\n<p>[ad_2] <\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Polkadot price faced rejection as it pierced the supply zone that extends from $42 to $44.06. The<\/p>\n","protected":false},"author":1,"featured_media":7487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[31],"tags":[143,165,1191,5546,164,868,254,841,8924,6690,525],"class_list":["post-7486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-polkadot","tag-cryptocurrencies","tag-dot","tag-hints","tag-minor","tag-polkadot","tag-prediction","tag-price","tag-rally","tag-resuming","tag-retracement","tag-technical-analysis"],"featured_image_urls":{"full":["https:\/\/editorial.fxstreet.com\/images\/Markets\/Currencies\/Cryptocurrencies\/Polkadot\/polkadot-150x150logo-637399979978734311_Large.png",0,0,false],"thumbnail":["https:\/\/editorial.fxstreet.com\/images\/Markets\/Currencies\/Cryptocurrencies\/Polkadot\/polkadot-150x150logo-637399979978734311_Large.png",null,null,false],"medium":["https:\/\/editorial.fxstreet.com\/images\/Markets\/Currencies\/Cryptocurrencies\/Polkadot\/polkadot-150x150logo-637399979978734311_Large.png",null,null,false],"medium_large":["https:\/\/editorial.fxstreet.com\/images\/Markets\/Currencies\/Cryptocurrencies\/Polkadot\/polkadot-150x150logo-637399979978734311_Large.png",null,null,false],"large":["https:\/\/editorial.fxstreet.com\/images\/Markets\/Currencies\/Cryptocurrencies\/Polkadot\/polkadot-150x150logo-637399979978734311_Large.png",null,null,false],"1536x1536":["https:\/\/editorial.fxstreet.com\/images\/Markets\/Currencies\/Cryptocurrencies\/Polkadot\/polkadot-150x150logo-637399979978734311_Large.png",null,null,false],"2048x2048":["https:\/\/editorial.fxstreet.com\/images\/Markets\/Currencies\/Cryptocurrencies\/Polkadot\/polkadot-150x150logo-637399979978734311_Large.png",null,null,false],"morenews-featured":["https:\/\/editorial.fxstreet.com\/images\/Markets\/Currencies\/Cryptocurrencies\/Polkadot\/polkadot-150x150logo-637399979978734311_Large.png",null,null,false],"morenews-large":["https:\/\/editorial.fxstreet.com\/images\/Markets\/Currencies\/Cryptocurrencies\/Polkadot\/polkadot-150x150logo-637399979978734311_Large.png",null,null,false],"morenews-medium":["https:\/\/editorial.fxstreet.com\/images\/Markets\/Currencies\/Cryptocurrencies\/Polkadot\/polkadot-150x150logo-637399979978734311_Large.png",null,null,false]},"author_info":{"info":["wolf2021"]},"category_info":"<a href=\"https:\/\/thecryptowolf.net\/category\/altcoin\/polkadot\/\" rel=\"category tag\">Polkadot<\/a>","tag_info":"Polkadot","comment_count":"0","_links":{"self":[{"href":"https:\/\/thecryptowolf.net\/wp-json\/wp\/v2\/posts\/7486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thecryptowolf.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thecryptowolf.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thecryptowolf.net\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thecryptowolf.net\/wp-json\/wp\/v2\/comments?post=7486"}],"version-history":[{"count":0,"href":"https:\/\/thecryptowolf.net\/wp-json\/wp\/v2\/posts\/7486\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thecryptowolf.net\/wp-json\/wp\/v2\/media\/7487"}],"wp:attachment":[{"href":"https:\/\/thecryptowolf.net\/wp-json\/wp\/v2\/media?parent=7486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thecryptowolf.net\/wp-json\/wp\/v2\/categories?post=7486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thecryptowolf.net\/wp-json\/wp\/v2\/tags?post=7486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}