Polkadot (DOT) has reached its lowest valuation since November 2023, according to crypto analyst Michaël van de Poppe. In a tweet, Van de Poppe highlighted that DOT has taken the liquidity below the low of March 2024, indicating a full capitulation taking place in the market.
This price drop presents a potential accumulation opportunity for investors, particularly those looking to increase their DOT holdings before the anticipated real-world assets (RWA) run. Van de Poppe suggests that the current price level is a higher timeframe level where investors should consider accumulating more Polkadot.
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Two Years of Downhill Trend: Gaussian Channel Signals Potential Change
Analyst Iammycat, in a separate tweet, pointed out that DOT has experienced an almost two-year uphill trend, followed by a nearly two-year downhill trend. In March, the Gaussian channel switched to green, signaling a potential change in the price trajectory. However, the analyst notes that not much has changed so far.
Iammycat expresses curiosity about whether Polkadot will witness a performance similar to that of 2021/2022, even if it is only 50% of the previous rally. This sentiment suggests that there may be potential for significant growth in the future, despite the current bearish trend.
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Show more +Strong Holding and Demand Zone Retest
Despite the overall downturn in the crypto market, DOT has been holding strong, according to analyst Yakuza. The analyst has set a dollar-cost averaging (DCA) buy order to trigger below $5.5, anticipating a triple demand zone retest. For those well-versed in technical analysis (TA), this setup already makes sense and presents a potential entry opportunity.
Yakuza emphasizes the substantial innovation embedded within the Polkadot ecosystem, which has consistently caused it to rank among the top projects in the crypto space. The analyst reminds investors that the minimum hold target for the Yakuza group is a 9x return from their entry point.
As Polkadot (DOT) experiences its lowest valuation since November 2023 and undergoes full capitulation, investors are presented with a potential accumulation opportunity. With the anticipated real-world assets (RWA) run on the horizon, the current price level may be an attractive entry point for those looking to increase their DOT holdings.
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