Polkadot (DOT) bracing for 120% price hike: Analysts

TL;DR

DOT is seeing a weekly price increase of 10%, with bullish predictions suggesting possible peaks to $10 and beyond, especially if it breaks certain key resistance levels. Analysts had previously predicted further momentum for the asset, with forecasts ranging from $15.80 to a staggering $100. How high can DOT jump?

Polkadot’s native cryptocurrency, DOT, has been one of the best performers in the digital asset market lately, registering a 10% price increase on a weekly basis.

DOT price, Source: CoinGecko

The popular entrepreneur, using the handle X Ted, recently argued that the token is retesting a major support zone. He believes the value of the DOT could rise to $10 in the coming months if it breaks above the $7 mark. We remember that the asset crossed this level during the weekend.

CRYPTOWZRD and Jesse Olson also outlined bullish predictions. The former believes the next bull run will begin once DOT breaks above $9.60.

“Above $9.60, we have another bullish push towards $15.80. The fifth wave is getting stronger…and most will miss it,” the analyst expected.

Jesse Olson went even further, stating that the DOT’s current condition offers investors the same buying opportunity as seen six months ago. The price of the asset was below $5 in early November and reached almost $12 in mid-March.

The previous predictions

Crypto analysts have recently become increasingly active in describing DOT forecasts. Popular X user Ash Crypto (who has over a million followers) and Michael van de Poppe are among those who participated.

The former admitted it still had its DOT deposit, raising hopes of a rally in prices to a two-year high of $15. Michael van de Poppe maintained that Polkadot has shown “fundamental progress” over the years, stating that “rotation is close.” He also revealed that he was adding the asset to his personal portfolio.

The most optimistic analyst to touch DOT is crypto enthusiast Thomas Kralow. he predicted a price explosion towards the astonishing $100 during the next bull run.

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