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Sunday, November 27, 2022
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    HomeMarketPolkadot (DOT) could pull back to $17

    Polkadot (DOT) could pull back to $17

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    The final longer-term outlook for Polkadot (DOT) is kind of constructive. Nonetheless, there might be a near-term pullback earlier than the altcoin finds one other leg up. DOT has additionally surged in current days, making the potential of the pullback extra predictable. Listed below are some highlights:

    • Polkadot (DOT) has struggled to push by way of its weekly provide zone of between $22 and $28.

    • At press time, the altcoin was buying and selling for $21.58, just about unchanged during the last 24 hours.

    • We anticipate DOT to drag again to round $17 earlier than discovering sufficient assist to rally as soon as once more.

    Information Supply: Tradingview

    Polkadot (DOT) – Value motion and prediction

    Polkadot (DOT) has climbed steadily in current days. In truth, in February alone, the altcoin has reported good points of round 30% in complete. However regardless of this, DOT has struggled to clear its weekly provide zone of between $22 and $28. 

    With this weak spot, the bullish momentum we noticed at the beginning of the month may gradual. Though in the long term the overall outlook for DOT is constructive, we anticipate a pullback in the direction of $17 earlier than DOT finds sufficient demand for one more upward momentum. 

    Nonetheless, if the coin falls additional under $17, then we might even see extra losses earlier than any rally comes once more. On the time of scripting this put up, DOT was just about unchanged during the last 24 hours, buying and selling inside its provide zone at $21.58.

    Must you purchase Polkadot (DOT)?

    Properly, there are two methods to revenue from DOT. First, you’ll be able to wait till the worth retreats to $17 and purchase at a reduction for the long run. Nonetheless, short-term merchants can enter brief positions round $22 and shut at $17. 

    Both manner, there are some respectable alternatives for short- and long-term performs. However regardless of this, Polkadot (DOT) is a significant crypto asset that may ship immense long-term worth anyway.



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