Polkadot (DOT) Long-term Potential To Hit $24: Analyst Says

Polkadot (DOT) is gearing up for a big move, as evidenced by its steady uptrend over the past few weeks. At the time of writing, Polkadot is trading at $9.45, with a 24-hour trading volume of $716.28 million and a market capitalization of $9.33 billion. Although it has fallen slightly by 2.46% in the past 24 hours, its overall momentum suggests a big move ahead.

Source: CoinMarketcap

Cryptocurrency analyst CryptoGuerrilla expressed We have a bullish outlook on DOT’s price trajectory, indicating that the next key macro target could be near $24. His analysis, based on weekly charts that show long-term forecasts, suggests this goal may not materialize within a few weeks, but analysts expect it to materialize over the long term.

According to short-term technical analysis, Polkadot is within an uptrend channel, which indicates growing investor confidence and suggests a continued rise. Additionally, the price has broken out of the resistance at the $9.40 level, indicating the potential for further upside. Furthermore, if market conditions turn bearish, the expected support zone is around $9.40. Overall, DOT shows favorable technical signs from a medium- to long-term perspective.

Source: Tradingview.com

Polkadot (DOT) short term price prediction

Changelly is a well-respected platform known for its insightful cryptocurrency analysis, and recently released Comprehensive prediction of Polkadot’s price trajectory. This forecast stands out for its optimism, predicting a significant 12.18% increase in Polkadot’s value. This increase will push Polkadot’s price to $10.59 by March 29th.

Taking a look at the technical analysis for Changelly, we see that the Bullish sentiment stands at an impressive 93%. This suggests a strong consensus among traders and investors about the uptrend in his DOT. Moreover, this is also supported by the fear and greed index of 83, indicating the extreme greed of market participants.

Polkadot’s potential trajectory was further reinforced by crypto experts who studied historical price data and trends. Looking at these fluctuations, they expect Polkadot’s average price to be around $10.26 by March 2024. Nevertheless, their forecast also assumes a range of prices within this range, from $9.93 up to $10.59.

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