$DOT Analysis Update
Polkadot (DOT) remains ranked 18th on CoinMarketCap. Its fundamentals are still just as strong. The price dropped due to the news about Asian AI, but this doesn't undermine the work and technology of Polkadot.
DOT is a cryptocurrency that has been in an accumulation range for more than 950 days, following the same pattern that we look for to accumulate and seek a movement similar to what others like
#Cardano have already made. DOT is in an interesting zone, having recently touched the 0.78 Fibonacci level, with a downward movement without strength and showing signs of exhaustion. Since our first analysis, it has only taken one of the 3 buy orders.
This is my analysis, make your own and if you are afraid, use stop-loss. I am speculating an upward movement for DOT in the short term that will take us to the 11 level, which from current prices represents more than 50%, and in the coming months we are looking to catch a movement that will take us towards $19.
DOT has not been able to break through its key resistance levels like
#AVAX and
#fil with strength, but it has also not sought the lower part of the range like
#Fetch_ai . With a weak, exhausted downward movement, I think DOT is a crypto that can give us at least a 3x increase ahead of the bull run.
Don’t sell your DOT, remember to buy low and sell high. DOT is undervalued and cheap. Once DOT reaches $19, let someone else buy.