Polkadot Price On The Verge Of Massive Breakout, Can It Reach $25?
17 Mayo 2024 - 3:00PM
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Polkadot (DOT) has come under the spotlight with crypto analysts
laying out bullish narratives for the crypto asset. One of them is
crypto expert Michaël van de Poppe, who believes Polkadot could
rise to as high as $25 in this bull run. Polkadot Could Reach
$25 On Next Leg Up Michaël van de Poppe mentioned in an X (formerly
Twitter) post that Polkadot’s next rally will see it climb between
$20 and $25. He explained that the crypto token has seen a
substantial correction in the past months, but it showed enough
strength by coming back to pre-rally levels. The analyst further
claimed that Polkadot has bottomed, “especially since JAM
Whitepaper came out.” Related Reading: PEPE Whales Go On Massive
720B Shopping Spree Amid Campaign For New ATHs, Is It Time To Get
In? As such, he believes that Polkadot is more than primed for this
rally, which could propel it to such heights. The crypto analyst
has been a big believer in Polkadot’s potential. He previously
included Polkadot in a list of crypto tokens that he believes are
undervalued. He claimed that DOT’s valuation was still at a cycle
low, which had opened up a “huge opportunity” to invest in
it. Van de Poppe is very much invested in Polkadot because of
its technology. In a previous X post, he highlighted how the JAM
(Join-Accumualte Machine) Paper, which ushered in Polkadot 2.0,
would revolutionize DOT’s ecosystem. He also claimed that Polkadot
is the “second largest blockchain in terms of developers and
growth.” Therefore, he expects DOT’s price to complement the team’s
efforts soon enough. Meanwhile, Van de Poppe expects Polkadot
to reach as high as $20 in the third quarter of this year. For now,
he believes that the $8 and $17 range are crucial resistance levels
that the crypto token must break out of to enjoy such a parabolic
rally. A More Bullish Prediction For DOT Crypto analyst
Crypto Thanos offered a more bullish prediction for Polkadot,
stating that the crypto token climbing above $50 is “easily
achievable” in this bull run. He believes this price is attainable
because he expects institutions to get interested in large caps
like Polkadot. He also noted Polkadot’s collaboration with Tie,
which aims to increase institutional exposure and access. It
is worth noting that Polkadot’s all-time high (ATH) is currently
$55, which makes Thanos’ prediction for the crypto token feasible.
Crypto tokens are known to usually surpass their ATH in every bull
run. Related Reading: Why Is This Crypto Pundit Warning XRP
Investors To Be At Alert For The Next 3-12 Months Crypto analyst
Captain Faibik provided insights into what to expect from Polkadot
in the short term. He predicts the crypto token will record a 35%
“bullish rally” soon enough. He said a “major trendline
breakout/retest has already been confirmed” for DOT on the
four-hour timeframe chart. At the time of writing, Polkadot
is trading at around $7.11, up over 2% in the last 24 hours,
according to data from CoinMarketCap. Chart from
Tradingview.com
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