TL;DR
- Polkadot (DOT) has seen a recent 5% increase in price, with predictions from multiple analysts suggesting a potential rally that could elevate its value to $15 or even $20 by the end of next year.
Some prominent traders also view the asset as a good investment at the moment.
Is DOT Ready for a 100% Rally?
Polkadot’s native cryptocurrency – DOT – has recently entered green territory, with its price jumping by 5% on a weekly scale and briefly exceeding $7.50. Multiple analysts believe this could be the beginning of a major rally that could push the asset’s value to as high as $15.
One person to outline such a scenario is the X user World of Charts. He predicted that the aforementioned peak could be reached before the end of Q2, 2024, claiming that DOT has consolidated in a “bullish flag.”
In the H4 timeframe for crypto, we see a consolidation pattern forming with a bullish flag. If this pattern breaks out successfully to the upside, we anticipate a price increase towards $15 in the following weeks.
— World Of Charts (@WorldOfCharts1) April 22, 2024
Previously this month, CRYPTOWIZARD predicted that Polkadot’s token price could reach $15. User X CryptoYoddha and crypto content creator Jake Gain were even more bullish in their outlook. The former projected a future price of $20, while the latter imagined that DOT might hit an all-time high again next year.
Recent Polkadot Price Inputs
During last week’s crypto market correction, DOT‘s value dropped dramatically. However, some traders saw this as a good chance to buy at a lower price. For instance, Michael van de Poppe expressed his belief in Polkadot’s “advanced development” and decided to acquire more of the asset for himself.
Flash also revealed buying the dip, while Wolf of Altcoins placed DOT among the top cryptocurrencies worth buying at the moment. Other well-known altcoins included in the club are Cardano (ADA), Arbitrum (ARB), Kaspa (KAS), Uniswap (UNI), Chainlink (LINK), and many more.
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2024-04-22 17:54