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🚨3 reasons why Polkadot $DOT price may Skyrocket🚀
1. Spot Polkadot ETF approval potential
2 . Polkadot JAM upgrade
3 . Polkadot also has strong technicals that may push its price higher over time. The chart above shows that DOT has remained between the support at $3.85 and resistance at $11.71 in the last three years. It recently retested the lowest side of this channel.
This consolidation mirrors what happened to XRP, a token that has surged lately. It is also a sign of accumulation, the initial stage of the Wyckoff Theory. Accumulation is usually followed by the markup phase, which is characterized by higher demand than supply.
A strong breakout above the upper side of the channel will signal more gains ahead, with the initial target being at $23.5, the 38.2% retracement level that is about 365% above the current level. #Polkadot #polkadot2.0 $DOT
#righttime to #invest
1. Spot Polkadot ETF approval potential
2 . Polkadot JAM upgrade
3 . Polkadot also has strong technicals that may push its price higher over time. The chart above shows that DOT has remained between the support at $3.85 and resistance at $11.71 in the last three years. It recently retested the lowest side of this channel.
This consolidation mirrors what happened to XRP, a token that has surged lately. It is also a sign of accumulation, the initial stage of the Wyckoff Theory. Accumulation is usually followed by the markup phase, which is characterized by higher demand than supply.
A strong breakout above the upper side of the channel will signal more gains ahead, with the initial target being at $23.5, the 38.2% retracement level that is about 365% above the current level. #Polkadot #polkadot2.0 $DOT
#righttime to #invest
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