Top Crypto Analysts Agree Polkadot (DOT) Is Going Up, Here Are Their Targets

Several prominent crypto analysts have recently issued enthusiastic forecasts for the price of Polkadot’s DOT token. Most notably, analyst Michaël van de Poppe stated that DOT is positioned for a continuation higher across crypto ecosystems. Specifically, he believes DOT could surge over 130% from current levels to reach $17.

Analysts Forecast Gains for Polkadot’s DOT

In his tweet, van de Poppe pointed out that Polkadot is making higher highs and higher lows on the higher timeframes. This price action is indicative of a strong uptrend. After bouncing off support around $6, DOT is now trading above $7. However, van de Poppe identified the next major resistance zone at $9.30.

Additionally, he noted that breaking above this resistance could spark a massive spike towards $17. At the current price, this target represents a gain of over 130% for DOT holders.

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

Besides van de Poppe’s optimistic analysis, other prominent analysts have echoed his bullish sentiment. Several have highlighted Polkadot’s impressive potential in both the short and long term.

Over the past 24 hours, the enthusiasm has already translated to a 3.48% gain for DOT, bringing it to $7.20 per data from altFins. Moreover, DOT has climbed 6.04% over the last week.

DOT Appears Poised for Breakout According to Technical Analysis

Per the altFINS data, the price is trading in a Falling Wedge pattern. Trend traders should wait for a bullish breakout above the upper trend line and buy with an upside potential to $8. This would offer an attractive reward. Swing traders could enter long on a pullback to the support zone between $5.35 and $5.80.

Source: altFINS – Start using it today

The emerging Falling Wedge pattern usually results in a bullish breakout to the upside. When the price breaks above the upper descending trend line, it is expected to start trending higher. Swing traders could trade between the convergence lines before the breakout occurs. Most traders should wait for the completed pattern and confirmed breakout before buying.

According to AltFINS, the medium-term trend is neutral while the short- and long-term trends are in uptrends.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.

CaptainAltcoin
Logo