Polkadot May Not Hit another All-Time High for Year 2021

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Just like the overall cryptocurrency industry, Polkadot (DOT) was also experiencing a high tide in terms of its price. However, its high trend ended prior to the rest of the cryptocurrencies on November 4, 2021. After hitting an all-time high of $55.00 per DOT on November 4, DOT’s price has continued tumbling.

From hitting its all-time high of $55.00 per DOT on November 4 until November 28, its price came all the way down to $32.92. This means that its price had dipped over 40% in a matter of 24 days.

Starting from November 28, the price of DOT has surged almost 10%, coming up to $36.16 per DOT, which is still not good for DOT. For now, the H&S pattern is showing that the price of DOT is still in the dark, despite the 10% growth.

The RSI graph suggested that the price of DOT may go below $40 after the plunging began. However, the RSI line below 43 was not an exaggeration. However, the actual performance of DOT has been below the predictions suggested by the RSI and H&S pattern. This goes to show that at present, the bears have the upper hand, which is why the market is being dragged down.

Although DOT is currently revolving around the $36 per DOT figure, the 20-day EMA for the DOT is now predicting an alarming situation for DOT. The EMA shows that in the next few days, the price of DOT may go below the $32 per DOT benchmark. This may trigger if the bears continue selling their DOT and the selling process intensifies.

If the trend continues, the price of DOT may even go below the $26 per DOT mark. This would result in another major sink for DOT in the cryptocurrency market.

On the other hand, there are predictions surrounding the bullish run of DOT. The predictions suggest that by the end of December, the price of DOT may grow all the way over to $49.78 per DOT. The graph predicts that DOT may not be able to achieve another all-time high in the next 30-days.

Although DOT started its year with a bang, it seems that the same year may not end with the same trend. This is because although the year-to-date growth of DOT is over 333%, its performance in the past 30-days has been demotivating.

In the past 30-days, DOT has experienced an alarming drop in its price, which is over 30%. Coming further down to its performance in the past 7-days, DOT’s price has plunged by 9.12%, and then 4.30% in the past 24-hours. This means that DOT’s price is constantly depreciating and this has caused a huge selling activity on the DOT network.