Why Polkadot (DOT) Could Be a Big Mover in the Years to Come: Analyst
TL;DR
- polkadot‘s DOT is trading around $6.20, down 4% on the week, but a potential revival could be on the horizon.
- Some analysts think that the asset is in an accumulation phase and has a bullish outlook if it remains above a certain resistance level.
Polkadot’s native token was not as severely affected as other leading cryptocurrencies during the latest market correction. Still, its price has fallen around 4% on the week and is currently trading at $6.20 (according to CoinGecko data).
Prominent X analysts, including Michael van de Poppe and Crypto Tony, believe that a significant revival could replace the negative trend in the coming months.
Old requested He said DOT has “reached significant support area and accumulation area.” He predicted that existence would happen request It will be a “major push in the coming years,” building on multiple projects in the Polkadot ecosystem, such as the growing RWA industry.
The analyst presented a price chart according to this DOT could form a “higher low” before heading north. He predicted a rally towards $17 as long as the token surpasses this mother The resistance level is $9.29.
Crypto Tony argument DOT bulls are “doing well and holding up” as of now moment. He thinks the uptrend could be interrupted if the asset falls below (approximately) $5.80.
Previous Predictions
Crypto Thanos and Crypto’s Capo also recently touched on the topic. Old suggested As long as Polkadot’s token trades in the $6-$7.50 range, it will be in the “accumulation range.”
The analyst has high hopes for it, based on various grounds such as “elimination of the old parachain auction model”, “radical change in usage”, etc.“ reducing wealth, reducing inflation by burning wages, and others.
For Their Part, Crypto Capo suggests DOT is “forming a new uptrend”“ and is in a leading position among mother Blockchains in the development of Artificial Intelligence (AI) and games.
load but at leastAsh Crypto – an X user with over a million followers, clarified They say they currently hold more than 120,000 DOT tokens, which currently equals almost $750,000.
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