Does DOTUSD Really Copy ETC's Previous Cycle?
Polkadot (DOTUSD) seems to be trending since the 2021 high (all-time high), ETC's previous cycle was 2018 - 2021. As you can see on this 1W chart, the RSI series in particular between these two fractals are almost identical.
A lower double top resulted in a Bearish Cycle, followed by an RSI bottom that led to a price breakout above the 1-week MA50 (blue trendline) and at the 0.5 Fibonacci retracement level (above the overbought RSI), finally followed by a fresh decline (RSI at 40.00), which in the case of ETC when broken, resulted in a Parabolic rally of the Bullish Cycle.
Currently, it looks like DOT is at an RSI Low of 40.00, so if it does indeed repeat the previous Cycle of Ethereum Classic, we should see the price start to rally strongly towards the 1.5 Fibonacci extension level. If that is the case, we can expect a High of around $200 by the end of 2025.
