{"id":571951,"date":"2024-01-27T16:02:11","date_gmt":"2024-01-27T16:02:11","guid":{"rendered":"https:\/\/ktsl888.com\/?p=571951"},"modified":"2024-01-27T16:02:11","modified_gmt":"2024-01-27T16:02:11","slug":"polkadot-rally-incoming-crypto-analyst-predicts-150-price-surge-for-dot","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/polkadot-rally-incoming-crypto-analyst-predicts-150-price-surge-for-dot\/","title":{"rendered":"Polkadot Rally Incoming? Crypto Analyst Predicts 150% Price Surge For DOT"},"content":{"rendered":"

The Polkadot (DOT) token has witnessed significant downward pressure over the past few weeks. This negative performance was further exacerbated by the recent downturn of Bitcoin\u2019s value, which tumbled below $40,000<\/a> over the past week.<\/span><\/p>\n

However, the altcoin appears to be garnering momentum in the past few days, having rebounded positively from the $6 mark. A popular analyst on the X platform has put forward an exciting projection for DOT, saying the token looks set for a substantial upward move in the coming weeks.<\/span><\/p>\n

Can Polkadot Reach $17 In This Cycle?<\/span><\/h2>\n

In a\u00a0recent post on X<\/a>, prominent crypto analyst Michael van de Poppe noted that the altcoins market is on the verge of a significant surge. Specifically, the crypto pundit singled out the Polkadot token as one of the assets to look out for.<\/span><\/p>\n

Related Reading: Binance Smart Chain (BSC) Market Cap Hits New Milestone, Registering 48% QoQ Surge<\/a><\/div>\n

According to Poppe\u2019s post on X, DOT is approaching a significant support level in three days. The analyst identified the support zone between $5.60 and $6 while highlighting the need for this level to hold strong.<\/span><\/p>\n

\"Polkadot\"<\/p>\n

3-day chart showing different crucial zones of the Polkadot price | Source: Michael van de Poppe\/X<\/span><\/a><\/pre>\n
If the support level holds, Michael van de Poppe believes that Polkadot\u2019s price is primed for a substantial run to the upside in the current cycle. And the crypto analyst put forward an ultimate $17 target for the cryptocurrency if a breakout does occur.<\/span><\/p>\n
This potential price action would represent a massive 150% upswing from the current price point. Nevertheless, this would still be a long way from the token\u2019s all-time high of $54.98<\/span><\/p>\n
It is worth noting that Michael van de Poppe<\/a> has also identified a price zone that will be integral to DOT\u2019s possible run to $17. According to his analysis, there is significant resistance for the altcoin to overcome at around the $9.39 level.<\/span><\/p>\n
DOT last hit this price point on Boxing Day. Resistance caused the coin’s value to collapse; since December 26, 2023, it has dropped by almost 30%.<\/span><\/p>\n
DOT Price Overview?<\/span><\/h2>\n
As earlier inferred, Polkadot’s price<\/a> has performed poorly\u00a0since the turn of the year. According to data provided by CoinGecko, the cryptocurrency\u2019s value has dipped by almost 24% in the past month.<\/span><\/p>\n
Related Reading: Ethereum Faces Market Tremors As Celsius Offloads $1 Billion in ETH<\/a><\/div>\n
As of this writing, the DOT price<\/a> is $6.69, reflecting a 3.8% increase in the last 24 hours. However, the coin is still red on the weekly timeframe, with a 2.3% price slump over the past seven days.<\/span><\/p>\n
Nonetheless, Polkadot ranks as the 13th-largest cryptocurrency, with a market capitalization of roughly $8.85 billion.<\/span><\/p>\n
\"Polkadot\"<\/p>\n
Polkadot price showing good recovery on the daily timeframe | Source: DOTUSDT chart on TradingView<\/a><\/pre>\n
Featured image from Pexels, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"
The Polkadot (DOT) token has witnessed significant downward pressure over the past few weeks. This negative performance was further exacerbated by the recent downturn of Bitcoin\u2019s value, which tumbled below $40,000 over the past week. However, the altcoin appears to be garnering momentum in the past few days, having rebounded positively from the $6 mark. A popular analyst on the X platform has put forward an exciting projection for DOT, saying the token looks set for a substantial upward move in the coming weeks. Can Polkadot Reach $17 In This Cycle? In a\u00a0recent post on X, prominent crypto analyst Michael van de Poppe noted that the altcoins market is on the verge of a significant surge. Specifically, the crypto pundit singled out the Polkadot token as one of the assets to look out for. Related Reading: Binance Smart Chain (BSC) Market Cap Hits New Milestone, Registering 48% QoQ Surge According to Poppe\u2019s post on X, DOT is approaching a significant support level in three days. The analyst identified the support zone between $5.60 and $6 while highlighting the need for this level to hold strong. 3-day chart showing different crucial zones of the Polkadot price | Source: Michael van de Poppe\/X If the support level holds, Michael van de Poppe believes that Polkadot\u2019s price is primed for a substantial run to the upside in the current cycle. And the crypto analyst put forward an ultimate $17 target for the cryptocurrency if a breakout does occur. This potential price action would represent a massive 150% upswing from the current price point. Nevertheless, this would still be a long way from the token\u2019s all-time high of $54.98 It is worth noting that Michael van de Poppe has also identified a price zone that will be integral to DOT\u2019s possible run to $17. According to his analysis, there is significant resistance for the altcoin to overcome at around the $9.39 level. DOT last hit this price point on Boxing Day. Resistance caused the coin’s value to collapse; since December 26, 2023, it has dropped by almost 30%. DOT Price Overview? As earlier inferred, Polkadot’s price has performed poorly\u00a0since the turn of the year. According to data provided by CoinGecko, the cryptocurrency\u2019s value has dipped by almost 24% in the past month. Related Reading: Ethereum Faces Market Tremors As Celsius Offloads $1 Billion in ETH As of this writing, the DOT price is $6.69, reflecting a 3.8% increase in the last 24 hours. However, the coin is still red on the weekly timeframe, with a 2.3% price slump over the past seven days. Nonetheless, Polkadot ranks as the 13th-largest cryptocurrency, with a market capitalization of roughly $8.85 billion. Polkadot price showing good recovery on the daily timeframe | Source: DOTUSDT chart on TradingView Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":548761,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[83457,86493,85912,9753,86465],"class_list":["post-571951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-dot","tag-dot-price","tag-michael-van-de-poppe","tag-polkadot","tag-polkadot-price"],"acf":[],"yoast_head":"\nPolkadot Rally Incoming? 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While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/ktsl888.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Polkadot Rally Incoming? 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