According to CryptoPotato, Polkadot's native token, DOT, has experienced a 4% weekly decline, currently trading around $6.20. However, some analysts predict a potential resurgence in the coming months. Despite the recent market correction, DOT has not been as severely impacted as other leading cryptocurrencies.
Analysts, including Michael van de Poppe and Crypto Tony, suggest that the asset is in an accumulation phase and could see a bullish trend if it maintains above a certain resistance level. Van de Poppe stated that DOT is reaching a crucial area of support and accumulation. He anticipates that the asset will be a significant mover in the coming years, based on the numerous projects within the Polkadot ecosystem, such as the growing RWA industry. He predicts a rally towards $17 if the token surpasses the major resistance level of $9.29.
Crypto Tony believes that DOT bulls are holding well at the moment. He suggests that the bullish trend could be interrupted if the asset falls below the $5.80 mark. 'If we can continue to hold for a few weeks, I will look for an entry,' the trader said.
Other analysts, including Crypto Thanos and il Capo of Crypto, have also commented on the asset's potential. Crypto Thanos suggested that as long as DOT trades in the $6-$7.50 range, it is in the accumulation range. He has high expectations for the asset based on several fundamentals. Il Capo of Crypto, on the other hand, stated that DOT is forming a new bullish trend and is leading among major blockchains in advancing Artificial Intelligence (AI) and gaming.
In addition, Ash Crypto, a user with over a million followers, revealed that they still hold over 120,000 DOT tokens, which currently equals almost $750,000.
