It’s been a rollercoaster of emotions in the crypto market over the last few days. With increasing volatility, it’s become virtually impossible to call this market. As you would expect, Polkadot (DOT) has been swinging up and down too but there is some upside now for decent growth. Here is what we know.
DOT is approaching a crucial demand zone that could trigger a decent bullish run.
The coin was trading at $16.88 at the time of writing this post.
DOT could swing up by 25% if indeed it hits that zone.
Data Source: Tradingview
Polkadot (DOT) – Price analysis and prediction
After experiencing periods of high volatility, Polkadot (DOT) appears to be approaching a very crucial demand zone of between $11 and $15. This has been a crucial zone for bulls, and at the moment, DOT is slightly above that, trading at around $16.88.
If indeed the coin falls between that threshold, we are likely to see a decent surge that could push the price action above $20. This will represent gains of nearly 25% from the current price.
But this thesis will be invalidated if DOT manages to stay above the $15 mark. While this is possible, we do not think it is likely. The market is seeing a lot of price movements, and in fact, DOT appears to be on a downtrend right now.
Is Polkadot (DOT) a good buy?
Polkadot (DOT) is one of the most promising Ethereum scaling solutions in the market. It is such a popular asset as well. If you want long-term crypto that will deliver value for years to come, DOT is a decent buy. But if you want to really get in on a discount, give it a few days until it gets within the $11 and $15 range.
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