TL;DR
- Polkadot (DOT) saw a 7% daily price increase, exceeding the $7.50 mark, with analysts predicting further gains, potentially reaching $10 and beyond.
- Analysts such as Michael van de Poppe and Block Diversity envision DOT’s next targets in the $9-$25 range, boosted by the recent introduction of the JAM whitepaper and surpassing important resistance levels.
DOT’s Next Possible Move
The cryptocurrency market is flashing green today (May 21), with Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and many more leading digital assets charting impressive ascents. Polkadot (DOT) is also among the notable gainers, registering a 7% daily price increase.
Numerous analysts noted the asset’s rally, outlining impressive predictions for the near future. One example is the X user Crypto Thanos, who claimed that the $6-$7.50 range was “for accumulating only,” setting $10 as the next target.
Dippy.eth chipped in, too, suggesting that DOT “wants to break out” from the accumulation zone of $6.90-$7.50. In their view, reclaiming the $7.50 mark might lead to “higher levels.” Recall that the asset surpassed that mark a few hours ago and is currently trading at approximately $7.55 (per CoinGecko’s data).
Crypto Tony touched upon the matter yesterday (May 20) when DOT’s price was hovering around $6.90. The analyst said they are looking for “a safe entry” once the asset exceeds the $7.40 resistance mark. It will be interesting to follow whether the trader will jump into DOT’s ecosystem as promised.
Previous Forecasts
Another crypto analyst who envisioned a bright future for Polkadot’s native cryptocurrency is Michael van de Poppe. The X user, with over 700,000 followers, recently claimed that DOT has already “bottomed,” especially since the introduction of the JAM whitepaper. According to Michael van de Poppe, DOT’s next price target could be in the $20-$25 range.
Recall that the team behind Polkadot released the Join-Accumulate Machine (JAM) Gray Paper last month. The upgrade’s goal is to create a more efficient, secure, and scalable blockchain environment that integrates the best aspects of both Polkadot and Ethereum technologies.
For their part, Block Diversity predicted a price rally toward $9, $11, and eventually $13 based on DOT clearing the major resistance level of $6.90.
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