Polkadot Price Analysis: DOT Could Rise Higher As Parachain Launch Event Looms

It is expected that the parachain launch event on December 18 will be catalyst with a positive impact on Polkadot price that may take DOT to new ATHs.
Published by
Polkadot Price Analysis: DOT Could Rise Higher As Parachain Launch Event Looms

Today’s Polkadot price analysis looks at the recent DOT/USD price action and a possibility of a rebound as the Polkadot community awaits the launch of parachains on the Polkadot ecosystem. Polkadot (DOT) has been trading sideways between the $25.70 support wall and the $31.65 resistance since the December 04  crypto market flash crash.

Advertisement

Parachain Launch To Catalyse the Polkadot Price

Polkadot is trading in the red at $28 below the $30 psychological level. The DOT/USD price action suggests that the asset has completed a V-shaped top correction as seen on the daily chart. The completion of this correction goes in tandem with the sideways price correction that has kept the price below $31 since December 04.

A break out above the $31.65 level could see Polkadot price higher as bulls target to take it back to all-time highs above $55.

Bulls believe that this optimistic outlook is possible as Polkadot’s parachain launch event that is supposed to take place on December 18 is expected to boost DOT price. The first five parachain slot winners are expected to their projects in the Polkadot ecosystem during the event.

Efinity, the cross-chain NFT platform, is at the moment close to winning the fifth slot auction. The results will be declared on December 16, 2021.

The parachain token is considered by analysists to be a blue-chip cryptocurrency, and is considered as a long-term potential if it surges in the near future.

DOT/USD Daily Chart

DOT is among the few coins among the top 10 that have gained over the last 24 hours. It is up 2.47% as is expected to rise even higher.

Advertisement

Looking Over The Fence

On the flip side, things may go awry for Polkadot bulls and it may drop below the end of the V-topped correction at $25.70. If this happens, deeper corrections might be seen as DOT price may fall to find solace at the $20 support floor.

Advertisement

Share
Nancy Lubale

Nancy is a successful finance, crypto analyst and content writer with many years of writing experience finance and blockchain fields. Nancy has been producing quality content for websites in the cryptocurrency industry including Krptotrends, Forexcrunch, InsideBitcoins and Economywatch. She is a Certified Cryptocurrency Expert (CCE) from Blockchain Council. Her interests are in cryptoasset research and technical analysis, Fintech, Blockchain, DeFi, NFTs and Personal Finance. Follow her on X@NancyOmanga for more insights

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown

The U.S. Securities and Exchange Commission has announced plans to streamline its operations amid the…

October 1, 2025
  • 24/7 Cryptocurrency News

Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility

Pi Network has now added two new features to its Testnet. These are a decentralized…

October 1, 2025
  • 24/7 Cryptocurrency News

October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges

U.S. private payrolls unexpectedly fell in September, raising market bets that the Federal Reserve will…

October 1, 2025
  • 24/7 Cryptocurrency News

Hashdex Adds Cardano to Crypto Index Fund as ADA Gains SEC Listing Eligibility

Asset manager Hashdex has officially included Cardano in its Nasdaq Crypto Index U.S. ETF. This…

October 1, 2025
  • Bitcoin News

U.S. Treasury To Ease Tax Rule on Unrealized Bitcoin Gains, Aiding Saylor’s Strategy

The U.S. Treasury and IRS have released an interim guidance, which highlights plans to ease…

October 1, 2025
  • 24/7 Cryptocurrency News

Trump-Backed World Liberty (WLFI) Plans RWA Tokenization Paired with USD1 Stablecoin

Trump Family's World Liberty Financial has unveiled big real-world asset (RWA) tokenization plans on Wednesday,…

October 1, 2025