Polkadot’s price was somewhat constant in the last 24 hours. A scoring approach was used by InvestorObserver to estimate the possibility of the crypto suffering a significant price drop, related risks, and manipulation. According to this scoring system, there may be risks, and low volumes of trade may be seen for Polkadot. This further supports the fact that DOT will also plummet in the existing cycle.
So far, Binance is the world’s biggest crypto exchange in terms of trade volume. The platform’s liquidity recently offered additional support for ETH alternative, Polkadot, thereby opening a DOT or BDOT liquidity pool. In addition to the platform’s current liquidity pool, it could also support the adoption of Polkadot for its users on the crypto exchange platform.
Expert analysts have estimated the price trend of the altcoin, which portrayed a bearish angle, and they also believe the price may plunge to $20.09.
According to the Polkadot coin price prediction by a leading crypto analyst, William Suberg, the Relative Strength Index (RSI) indicator showed a value of 42.14, which indicates an approaching correction in Polkadot’s price trend. It could rise in the mid-term, depending on the trend.
FXStreet analysts believe that the altcoin price may get rejected, which will offer an entry point for many sidelined investors. They also observed a rejection providing entry for the bulls at around $30. A double-top setup at $23.80 exists that coincides with the altcoin‘s next resistance.
Cryptocurrency experts seem to be in a conflict, arguing about the fact that a downward trend might push the Polkadot price to less than $20.09, triggering a bearish trend among the investors.