This Popular Trader Bought the Polkadot (DOT) Dip: Details
TL;DR
- polkadot (DOT) remains in the red on a weekly scale following the recent decline in the market.
- However, some analysts are optimistic about the asset’s potential for significant gains in the near future and are adding it to their portfolios.
Polkadot’s native token, DOT, dropped significantly during the recent market correction. Its price briefly dropped below $6, down 20% on a weekly scale. However, it started to recover in the last few hours and is currently trading around $7 (up 7% in the last 24 hours).
DOT Price, Source: CoinGecko
One popular cryptocurrency trader addressing DOT’s recent price turmoil is X user FLASH. Analyst argument He said the asset’s trajectory was “the ugliest it’s ever been” but that trends could soon change for the better.
FLASH assumed that DOT would continue to fall or rise impressively towards the $20 level in the near future. It looks like the trader is opting for the second option since they announced they were “buying the dip”.
Another well-known analyst is Additional Polkadot’s presence in its portfolio is Michael van de Poppe. He recently claimed that the token has “reached a low cycle in BTC valuation” and that “fundamental progress is present.”#Polka-dot $dot
With the disruption of that beautiful market structure, perhaps the ugliest picture I have ever seen! It’s so ugly I need to delete it very soon! Head and Shoulders &or… We confirm a bottom around 0.786, confirming the bottom of W2, which will soon lead to V and Vol.
I bought the dip! pic.twitter.com/DG2VQdBYAc
— FLASH (@THEFLASHTRADING) April 14, 2024
Previous DOT Estimates
Many other analysts have outlined predictions for the asset recently. Last week, CRYPTOWIZARD suggested that DOT’s value was “on the verge of volcanic eruption.” Them default If the coin breaks the main resistance zone of $9.60, there will be an 80% price increase.
Crypto content creator Jake Gagain and X user CryptoYoddha also gave their two cents. The former predicts an all-time high next year, while the latter guess This summer it rose to $20.
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