ÂÂ$DOT, the native token of Polkadot (a well-known protocol connecting blockchains), has recently made a crucial development. As per the reports, the digital coin has entered a critical support zone where it goes through accumulation by DOT investors. At present, the token is going through bearish trends. It has reportedly seen a fifty percent slump from the local high spot of $12.
$DOT Enters a Crucial Support Zone for Accumulation
The market onlookers, DOT is establishing a falling wedge. With this development, the crypto token is potentially moving toward a breakout. Keeping that in view, the experts express optimism about the future progress of the token. According to the analysts, if the token effectively experiences a breakout, it has the chance to reach $10. Hence, the current scenario offers a significant opportunity to the $DOT investors.
According to the reports, the crypto token has been creating a falling wedge for the past twelve hours. This will potentially pave the way for a huge price upsurge. As a result of the respective development, the DOT coin may go through a 20-25% price increase. Hence, the market experts have doubled down on the token’s upcoming price movements.
This May Lead to a Significant Rise in the Upcoming Years
The current position of the relative strength index shows a downward movement. Additionally, the RSI’s 14-day simple moving average indicates the respective bearish momentum. The RSI has recently been moving near the oversold zone. Nonetheless, in the long run, analysts predict a remarkable rise of the DOT token in the next years.
