Polkadot Price Prediction - How Far Will the Price Fall?

In our last Polkadot Price Prediction , we wrote that the price could correct to $15-$17 soon. The reason for the assumption was a pattern in the chart, which the Bitcoin course had at the time. The formation was a rectangle with the top and bottom of $22.50 and $23.50. With rectangles serving as a continuation pattern, we thought the price could see a sell-off in the near future. As a result, the course also crashed and he was able to achieve the goal we had mentioned. The goal, as written at the beginning, was $15 - $17. But how could the Polkadot course continue in the near future? We'll enlighten you!

Although the Polkadot price has reached the $15 – $17 support area, as of now, we cannot see any signs of a trend reversal. As long as we do not see this, we do not assume a trend reversal. If we take a closer look at the indicators, we can see that the RSI is close to an oversold value or already slightly in the oversold zone (<30). Despite the indicator, we should not expect prices to rise suddenly. Candlestick patterns have greater meaning for us. If we see bullish or trend reversal candles in the chart, we would assume a trend reversal. Nothing to see until now. In addition, the RSI in the weekly chart is far from being in the oversold zone.

Based on the rather bearish price action, we anticipate the $15 – $17 support zone not to hold. We expect Polkadot price to target the $10 support next. At that time, this level acted once as resistance and once as support. From this point we could see a recovery in the weekly chart.

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