Polkadot Forecast - Polkadot is about to erupt!

Polkadot price has been in a downtrend since the end of 2021, since November 4th to be precise. But could the downward trend now come to an end? The price formed a bearish trend line and reached an important level. Because of this, the course will soon have to decide where the journey should go in the future!

The Polkadot price formed a trend line during the last recent descent which has steadily rejected the course, which is why the price has fallen as Next. As long as the price is below the trend line, we do not expect prices to rise. Instead, we assume that prices will continue to fall. At a higher level, Polkadot is still in an uptrend as we have not broken below the recent low. This is located at around $10.50. As soon as we fall below this price level, we assume a longer-term bear market.

The polkadot has hit the $16.29 support and is currently finding support at that price level. As the downtrend line heads towards resistance, Polkadot price will soon have to decide whether to hold support or if the bears will continue to push the price lower. If the rate breaks the support, we would expect rates below $10.50. Thus, an ongoing long-term downtrend would be likely. If the trend line breaks, the Polkadot price could see prices around $20 in the future. If you don't want to miss the price development, please join our premium discord. There you will constantly receive new information about the market.

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