The post Polkadot (DOT) Price Could Soar with New JAM Upgrade and High Liquidity Levels appeared on BitcoinEthereumNews.com.

Polkadot (DOT) is showing signs of potential growth despite recent challenges. The cryptocurrency community approved a significant upgrade that could drive future gains. Experts highlight Polkadot’s technical and security features as key to its undervaluation. Read our in-depth analysis on Polkadot’s (DOT) latest developments and its potential for growth. Stay informed with our expert insights and market predictions. Polkadot Positioned for a Rebound In recent months, Polkadot (DOT) has experienced a notable decrease in value, shedding 23.60% over the last 90 days. However, there are emerging indicators that suggest a potential reversal. A key tool in this forecast is the liquidation heatmap, which displays areas of high liquidity that could influence DOT’s price trajectory. Understanding the Liquidation Heatmap Liquidation occurs when a leveraged trading position is forcibly closed due to insufficient margin. The heatmap helps traders identify areas with high liquidity concentration. Recently, data from Hyblock identified significant liquidity in the $7.59 to $7.70 range, a critical zone that could influence Polkadot’s movement. Implications of the Liquidity Zone If the DOT price reaches $7.70 and buying interest grows, upward momentum could continue. Conversely, if selling pressure prevails, a price reversal might occur. According to analyst Michaël van de Poppe, Polkadot remains undervalued, emphasizing its scalability and security as undervalued assets. Impact of the JAM Upgrade Recently, the Polkadot community unanimously voted to implement the Join-Accumulate Machine (JAM) upgrade. This upgrade aims to enhance interoperability with other blockchains and improve the project’s overall functionality. Such advancements are critical for Polkadot’s ecosystem, especially in creating Real World Assets (RWAs), which could drive long-term value and potentially elevate DOT prices towards the $20 mark. Short-Term Indicators and Market Sentiment In the short term, indicators also show promising signs. For instance, the Relative Strength Index (RSI) recently climbed from an oversold position of 29.97…

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Filed under: News - @ June 2, 2024 9:02 am