Polkadot's native token, DOT, has experienced a 4% weekly decline, currently trading around $6.20. Despite this, some analysts, including Michael van de Poppe and Crypto Tony, predict a potential resurgence in the coming months. Van de Poppe suggests DOT is in an accumulation phase and could rally towards $17 if it surpasses the major resistance level of $9.29. Crypto Tony shares this bullish outlook, provided the token maintains above the $5.80 mark.
Other analysts, Crypto Thanos and il Capo of Crypto, also express optimism for DOT's future. They highlight the token's potential based on several fundamentals, such as the supersession of the old model of parachain auctions, a radical change in the use of the asset, and a reduction of inflation through fee burning. Il Capo of Crypto further suggests that DOT is leading major blockchains in advancing Artificial Intelligence and gaming.
In conclusion, despite recent market fluctuations, the overall sentiment towards DOT remains positive, with analysts predicting a potential rebound in the near future.