{"id":5008,"date":"2024-10-24T02:08:16","date_gmt":"2024-10-24T02:08:16","guid":{"rendered":"https:\/\/cryptoopia.com\/cryptocurrency\/5008.html"},"modified":"2024-10-24T02:08:16","modified_gmt":"2024-10-24T02:08:16","slug":"polkadot-price-remains-rangeboud-as-investors-still-look-for-altcoin-gains","status":"publish","type":"post","link":"https:\/\/cryptoopia.com\/cryptocurrency\/5008.html","title":{"rendered":"Polkadot price remains rangeboud as investors still look for altcoin gains"},"content":{"rendered":"

Investing.com – Polkadot<\/span> (DOT) price has been on a bit of a roller coaster in October. After a 10.9% uptick last week, the price climbed from $4.32 to $4.53, but the crypto token has since pulled back.\u00a0<\/p>\n

On Wednesday, DOT was trading down by 3% amid wider weakness observed in risk assets. The sluggish performance comes after a busy week in the market, with daily trading volume shooting up by more than 50%.<\/p>\n

Even with the recent dip, short-term traders are keeping a close eye on DOT after it broke out of a falling wedge pattern, which usually hints at the chance for more gains ahead. The positive vibes surrounding Bitcoin\u2019s push to $69k also helped lift sentiment across the crypto space.<\/p>\n

However, Polkadot traded mostly in the red over the past month, which led some to question whether investor interest is fading. After hitting a high of $4.57 over the weekend, DOT struggled to maintain momentum and dropped back below $4.50 on Monday.\u00a0<\/p>\n

This week\u2019s action has been a bit choppy, with the price hovering just above and below the 20 and 50-day Simple Moving Averages (SMAs). Some analysts are suggesting that if sellers remain in control, the price could dip further, possibly heading towards the $4 mark.<\/p>\n

That said, there\u2019s still some optimism about DOT\u2019s future. Some experts believe that Polkadot could follow a pattern similar to other altcoins, with price predictions ranging from $9.70 by the end of 2024 to even higher targets by 2025 if the current momentum holds.<\/p>\n

Elsewhere, Bitcoin\u2019s price has been consolidating near all-time highs, but recent data shows a cooling in institutional demand. For Polkadot, this cooling off in interest could reflect similar consolidation patterns.\u00a0<\/p>\n

Polkadot faces its own challenges, slipping below key price levels and seeing selling pressure in recent sessions. As Bitcoin<\/span>‘s performance often sets the tone for the wider crypto market, Polkadot has been hovering between $4 and $5, but a push past its consolidation phase could attract new interest.<\/p>\n","protected":false},"excerpt":{"rendered":"

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