Polygon and Polkadot Price Predictions: Analysts Forecast 35x Gains for MATIC, Triple-Digit Growth for DOT
Polygon (MATIC) and Polkadot (DOT) price projections have seen interest from crypto experts. Both projects display intriguing technical patterns that could signal potential upside in the coming months. Market watchers note these developments as the crypto sector continues to navigate volatile conditions.
What you'll learn 👉
Polygon (MATIC) Forms Macro Triangle Structure
Rekt Capital’s newsletter highlights a clear macro triangular market structure forming for Polygon. This pattern is developing beneath a major resistance area. A monthly close above the higher low could confirm support, positioning MATIC for further consolidation within the structure.
The analyst suggests that if MATIC holds the higher low, it may consolidate upwards towards the lower high. This movement could occur over several months. Previously, MATIC took three months to move from the higher low to the lower high.
MATIC Price Prediction
Trader Crypto Patel shares an optimistic outlook for Polygon. He notes that MATIC’s initial bull flag breakout resulted in an impressive 89x return. Patel is now monitoring a potential bullish pennant formation.
The trader speculates on the possibility of a 35x move from current levels. Patel outlines a bullish roadmap for MATIC, targeting price levels of $3, $5, $10, and $20. However, investors should approach such predictions cautiously and conduct their own research.
Polkadot (DOT) Tests Key Support Levels
Rekt Capital’s analysis also covers Polkadot’s recent price action. DOT is retesting late 2022 and early 2023 highs as new support. This retest coincides with the approaching quarterly candle close.
DOT broke above this support area in Q4 2023 and retested it in Q1 2024. The current Q2 2024 price action shows another retest of this crucial level. Stability here could help DOT establish a base for potential future gains.
A quarterly close above this support level could position DOT for upside in Q3 and Q4. The analyst notes the possibility of downside wicking below support in Q3, but ultimately in preparation for future price increases.
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DOT Price Prediction
Trader AMCrypto expresses a bullish sentiment on Polkadot. He believes DOT is ready for its next leg up in price action. The trader highlights the continued strength of Real World Assets (RWA) as a leading trend on Polkadot.
AMCrypto cites Polkadot’s strong security and scalability as key factors supporting RWA growth. He boldly predicts a three-digit DOT price in the current market cycle.
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