• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Sunday, June 29, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Polkadot Price Analysis & Prediction (Nov 17th) – Here Is Where DOT Is Heading to if the Price Continues to Plunge

Michael Fasogbon by Michael Fasogbon
November 16, 2022
in News
Reading Time: 3 mins read
0
13
SHARES
Share on TwitterShare on Facebook

Polkadot has been looking calm for the past few days after initiating a sell action from a channel’s resistance. It appeared to be gearing up for a fresh rally as the price consolidated below a key resistance level.

Since Polkadot lost the $16 support level in May, the market has continued to paint a lot of red as the price keeps dipping by the day. It is yet to make a significant rally to indicate a reversal. 

These past months of decrease have positioned the 11th best-performing cryptocurrency by market cap in a serious bearish condition. The daily chart’s lower low and lower high formation is maintained in a channel pattern.

Just after testing the channel’s resistance earlier last week, the price fell heavily and broke through $5.7(a 5-month low) before it dropped to a new low of $5.34, which is now acting as support for the past week.

Meanwhile, the price has bounced slightly from the new low on November 9, but it has failed to close above $6, which has remained a critical resistance level for DOT to reclaim. Unfortunately, the price is struggling as it consolidates under this critical level.

A continuous rejection at this level will likely trigger another sell action toward the channel’s support in the future. Currently, there’s not enough buying volume in the market to fuel and capture bullish momentum.

Polkadot Price Analysis (DOTUSDT): Daily Chart

polkadot price analysis
Source: Tradingview

Here are key levels to pay attention to if DOT expands from the ongoing consolidation phase.

Considering the existing trend, the first line of support is the current holding level of $5.35. The next support level to watch is $4.51, then followed by $3.89. If these supports fail to contain pressure, we can expect the rally to bottom at around $3, located around the channel’s support

On the other hand, a change in the trend could lead to recovery above the $6 resistance level. By then, we can consider $6.66 as the next resistance level. The resistance above the forming channel is $7.43.

Key Resistance Levels: $6, $6.66, $7.43

Key Support Levels: $5.35, $4.51, $3.89

  • Spot Price: $5.71
  • Trend: Bearish
  • Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.

Follow us on Twitter @thevrsoldier to stay updated with the latest Metaverse, NFT, A.I., Cybersecurity, Supercomputer, and Cryptocurrency news!

Image Source: František G. on Unsplash // Image Effects by Colorcinch

Previous Post

Top 3 Decentralized Exchange (DEX) Tokens Below $10 Million Market Cap to Watch in November 2022

Next Post

Big Eyes and Tamadoge are trending right now; Utility-rich Oryen is set to become the third with 110% Gains during Presale

Related Posts

Solana Hits $145 Again But Could This Time Be Different
News

Solana Hits $145 Again But Could This Time Be Different?

June 29, 2025
Featured

Binance Stands by XRP as Others Pull Back

June 29, 2025
Featured

XRP Jumps as Ripple Wins Legal Fight

June 28, 2025
Trump to Save Crypto: New Order May End Banking Discrimination
News

Trump to Save Crypto: New Order May End Banking Discrimination

June 25, 2025
Why Ethereum 6-Second Block Time Might Change Everything
News

Why Ethereum 6-Second Block Time Might Change Everything

June 24, 2025
Jupiter Token Crash: Why JUP Lost 80% and What Happens Next
News

Jupiter Token Crash: Why JUP Lost 80% and What Happens Next

June 24, 2025

Press Releases

Jupiter Token Crash: Why JUP Lost 80% and What Happens Next
News

Jupiter Token Crash: Why JUP Lost 80% and What Happens Next

by Alex Mercer
June 24, 2025

Introduction If you blinked, you might’ve missed Jupiter’s brief moment in the spotlight. The DAO behind the once-buzzy token has...

Read more
Bitcoin Price Survives Israel-Iran Tensions, Hack, and $200B Meltdown

Bitcoin Price Survives Israel-Iran Tensions, Hack, and $200B Meltdown

June 19, 2025
What you will get:  Simple steps to start trading cryptocurrencies like Bitcoin and Ethereum How to choose a reliable crypto exchange with low fees and strong security Key tips to read crypto price charts and manage trading risks How to stay updated with market-moving news and practice safely before investing Introduction Cryptocurrency trading has exploded in popularity as an easy way to earn online. With simple guidance you can start trading Bitcoin Ethereum and other altcoins using your phone or computer. This guide gives clear steps for beginners. What Is Crypto Trading and How Does It Work Crypto trading is buying and selling digital currencies like Bitcoin Ethereum Cardano or Solana to make a profit. You buy when prices are low and sell when they go higher. There are two main trading types: Spot trading: You own actual coins. Derivatives trading: You trade based on price movements without owning coins. Spot trading is perfect for beginners because it’s more straightforward and less risky. Step 1 Choose a Reliable Crypto Exchange Select a trusted crypto exchange. Popular beginner-friendly options: Binance: Low fees and many altcoins Coinbase: Easy for beginners with strong security Kraken: Great support and euro compatibility Bybit: Simple interface with spot and futures Look for: Easy sign up and verification Strong security (2FA, cold storage) Low trading fees and fast euro or fiat deposits Wide selection of coins and high volume Step 2 Learn Crypto Chart Reading Reading price charts will improve your crypto trading success. Key concepts: Trend lines: Overall up or down movements Support levels: Prices where value tends to bounce up Resistance levels: Prices where value tends to slow or reverse Start with basic charts like candlestick charts. Many platforms like Binance and Kraken offer built-in guides. Step 3 Manage Risk and Use Stop Losses Crypto prices are very volatile and can change fast. Protect your investment by: Investing only what you can afford to lose Using stop-loss orders to sell automatically at a set lower price Not risking more than 1–2% of your portfolio on any trade This risk management helps you stay in the game long term. Step 4 Stay Updated with Real-Time Crypto News Crypto markets respond instantly to news. Use reliable sources like Vr Soldier, CoinDesk, CoinTelegraph and The Block. Track: Bitcoin ETF decisions New coin listings on exchanges Regulatory changes Major partnerships and developments Following crypto news helps you predict good entry and exit points. Step 5 Use Demo Accounts to Practice Many exchanges like Binance and Bybit offer demo accounts or testnets. Practice trading with virtual money first. This helps you learn: How orders work Chart reading in real time Trading fees and order types Once you feel confident, move to small real trades. Final Simple Tips for New Crypto Traders Start with well-known coins like Bitcoin Ethereum Avoid chasing hype or FOMO (Fear Of Missing Out) Keep a basic trading journal or spreadsheet Learn from both wins and losses Crypto Trading Basics for Long Term Profit

Crypto Trading Basics for Long Term Profit

June 16, 2025
$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

June 14, 2025
Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

June 6, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier