As an experienced analyst, I’ve been closely monitoring the cryptocurrency market and have taken note of Polkadot (DOT) surpassing the $7.50 mark with a 7% daily price increase. This impressive rise has caught the attention of several analysts, who predict further gains for DOT in the near future.
TL;DR
- Polkadot (DOT) saw a 7% daily price increase, exceeding the $7.50 mark, with analysts predicting further gains, potentially reaching $10 and beyond.
Analysts such as Michael van de Poppe and Block Diversity envision DOT’s next targets in the $9-$25 range, boosted by the recent introduction of the JAM whitepaper and surpassing important resistance levels.
DOT’s Next Possible Move
Today’s cryptocurrency market is displaying positive signs (May 21). Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and numerous other prominent digital currencies are experiencing significant gains on their charts. Polkadot (DOT) is also making headlines, as its price has risen by 7% over the past day.
Many analysts have pointed out the impressive gains in the asset and have made optimistic forecasts for its future performance. One of these analysts, known as Crypto Thanos on X platform, has suggested that the $6-$7.50 price range is ideal for buying more, with a goal of reaching $10 next.
Dippy.eth made a contribution as well, expressing the belief that DOT is eager to move beyond the price range of $6.90 to $7.50. According to their perspective, reaching the $7.50 threshold could potentially result in further price increases. Notably, DOT had briefly exceeded this mark a few hours prior and was currently trading around $7.55 (as indicated by CoinGecko’s data).
Yesterday (May 20), Crypto Tony discussed the topic when DOT‘s price was approximately $6.90. He mentioned that they are waiting for a “safe opportunity” to enter the market once the asset surpasses the resistance level at $7.40. It will be intriguing to observe if the trader follows through with his intention to invest in DOT’s ecosystem.
Previous Forecasts
As a researcher studying the crypto market, I’ve come across Michael van de Poppe, an analyst with a significant following of over 700,000 users. He recently expressed optimism about Polkadot’s native cryptocurrency, DOT. In his opinion, DOT has already reached its bottom, particularly due to the release of the JAM whitepaper. According to Michael van de Poppe’s analysis, DOT could potentially reach a price range between $20 and $25 in the near future.
Recall that the team behind Polkadot released the Join-Accumulate Machine (JAM) Gray Paper last month. The upgrade’s goal is to create a more efficient, secure, and scalable blockchain environment that integrates the best aspects of both Polkadot and Ethereum technologies.
Block Diversity anticipates a price surge towards $9, $11, and ultimately $13 once DOT successfully breaks through the significant resistance at $6.90.
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2024-05-22 09:34