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🔥 What to Expect from DOT’s Next Price Increase
DOT traders could be in for good news soon. Over the past 90 days, Polkadot’s (DOT) price has experienced a significant decline of 23.60%.
DOT holders may soon find cause for celebration. One factor contributing to this positive outlook is the liquidation heatmap, indicating high liquidity that could potentially drive DOT’s price above $7.59. Additionally, the approval of a new project upgrade has been confirmed, which is expected to support a sustained upward trend in the long term.
Understanding DOT’s Market Dynamics and Analyst Insights
Liquidation in trading occurs when a trader’s position is closed due to price fluctuations or insufficient margin. However, tools like the liquidation heatmap help traders pinpoint areas with high liquidity, aiding in strategic decision-making for entries and exits.
Currently, Hyblock’s data highlights a liquidity concentration between $7.59 and $7.70 for Polkadot (DOT), termed as a magnetic zone where price movements are likely to gravitate.
If DOT surpasses $7.70 with increased buying pressure, further upward momentum can be expected. Conversely, if liquidation levels show a strong presence on the sell side of the order book, a price reversal could occur.
According to analyst Michaël van de Poppe, DOT has been undervalued despite its robust scalability and security features, highlighted by recent upgrades like the JAM Upgrade and focus on Real World Assets (RWA). He emphasizes DOT’s potential based on these strengths, stating:
“DOT is significantly undervalued in the blockchain space. Their recent JAM Upgrade and focus on scalability and security underline their potential in the market.”
🔸 Polkadot (DOT) Upgrade and Market Analysis
Polkadot (DOT) recently implemented the Join-Accumulate Machine (JAM) upgrade after a swift and xunanimous community vote. This upgrade aims to enhance the relay chain’s capabilities and improve interoperability with other blockchains, potentially bolstering DOT’s ecosystem.
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