Analysts Predict Huge Polkadot Bull Run! DOT price is ready, $ 100. to reach

Dot Price hits over $ 40 in a month

The Polkadot price is showing a comparatively strong performance than Bitcoin after launching its own Parachain. Given the strong fundamentals and sophisticated protocol, the DOT price is expected to hit $ 43 by the end of January 2021, as forecast by analyst ich1baN.

However, the Polkadot price rally is expected to hit new highs in 2021, meaning a gain of more than ten times. One of the most popular analysts, Mr. Business, believes the DOT price could reach $ 100 because the marginal cost (MC), which is the initial expense of setting up a new cryptocurrency, is 12 times higher than DOT’s Ethereum. And if Ethereum hits $ 10,000 in 2021, Polkadot could hit $ 100 too.

$ DOT has reached a new ATH

And it’s not on grayscale

It’s not on Coinbase

And it’s 12 times from the MC at ETH.

So if we believe that $ ETH will go up to 5000 – how can $ DOT not go up to $ 100?

– Mr.Business (@ Adouble212) January 13, 2021

Additionally, many other analysts have set their DOT price target at $ 100, and some even believe the DOT price could hit $ 500 as well.

Also read: PolkaDot price soars, market cap hits $ 10 billion

Polkadot Price Analysis

Polkadot price continues to consolidate above the $ 17.50 mark as the price encounters strong resistance as it crosses the $ 19.00 mark.

Polkadot price is expected to rise to retest the $ 19.00 resistance level if price moves up. The positive technical indicators and rising trading volume suggest a bullish breakout above the level towards the $ 20.00 mark.

Conversely, if the price of Polkadot falls below the USD 17.50 support level, DOT may revisit the USD 15.00 support level. Another downward move could mean a fall to the $ 12.50 level.

The RSI is neutral and trading near the 50.00 level which shows little momentum on either side. The indicator is currently moving downwards, but with a smaller slope, which indicates a decreasing pressure.

The Bollinger Bands are currently narrow and suggest further convergence as price volatility continues to ease. The narrowing indicator suggests that the polkadot price could soon see a sharp spike in price volatility.

Interesting reading: Analysts believe that the price of polkadot (dot) will reach $ 250 in 2021! Will it be included in the top 5 crypto assets?

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