Polkadot (DOT) Gearing up for a 120% Price Surge: Analysts
TL;DR
DOT experiences a 10% weekly price surge, with bullish predictions suggesting potential spikes to $10 and beyond, particularly if it surpasses certain key resistance levels.
Analysts previously envisioned further impulses for the asset, with forecasts ranging from $15.80 to a staggering $100.
How High Can DOT Jump?
Polkadot’s native cryptocurrency – DOT – has been among the best performers in the digital asset market lately, registering a 10% price increase on a weekly scale.
The popular entrepreneur, using the X handle Ted, recently argued that the token is retesting a major support zone. He believes DOT’s value could spike to $10 in the next few months if it surpasses the $7 mark. Recall that the asset crossed that level over the weekend.
CRYPTOWZRD and Jesse Olson outlined bullish predictions, too. The former thinks that the next bull run will start once DOT exceeds $9.60.
“Above $9.60, we get another bullish impulse towards $15.80. Wave five is coming stronger… and most are going to miss it,” the analyst envisioned.
Jesse Olson went even further, claiming that DOT’s current condition offers investors the same buying opportunity as the one observed six months ago. The asset’s price stood at less than $5 at the start of November and pumped to almost $12 in mid-March.
The Previous Predictions
Crypto analysts have recently become increasingly active in outlining DOT forecasts. The popular X user Ash Crypto (who has over one million followers) and Michael van de Poppe are among those who chipped in.
The former admitted still holding his DOT stash, raising hopes for a price rally toward a two-year high of $15. Michael van de Poppe maintained that Polkadot has shown “fundamental progress” over the years, claiming that “rotation is near.” He also revealed that he was adding the asset to his personal portfolio.
The most optimistic analyst to touch upon DOT is the crypto enthusiast Thomas Kralow. He predicted a price explosion towards the staggering $100 during the next bull run.
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Filed under: Bitcoin - @ May 6, 2024 3:23 pm