$DOT
🚨 DOT Price Analysis: Correction or Comeback 🚨
The daily chart also suggests that DOT is at a critical point. We examined how the price relates to the Exponential Moving Average (EMA) during this timeframe.
From the chart below, the 20 EMA (blue) has crossed over the 50 EMA (yellow). This position is called a golden cross, and is bullish.
However, it does not seem like this EMA position will push Polkadot’s price higher. This is because DOT has dropped below the 20 EMA and is on the verge of falling below the 50 EMA.
If the altcoin drops below the 50 EMA, a correction could follow. In that scenario, the Polkadot market value could drop to $3.24.
Should selling pressure increase, the price might fall below the $3 mark. On the contrary, if DOT’s price climbs above the 20 EMA and momentum turns bullish, this prediction might not pass.
If that were to happen, Polkadot’s price could rise to $5.22. In a highly bullish case, it could hit $6.44.
