DAO Maker Soars: Analyst Predicts $6 Target Price

DAO Maker (DAO) price has surged significantly, with a 34.67% increase in the past 24 hours alone. Technical analyst One Intent has identified key support and resistance levels, highlighting a bullish resurgence and targeting approximately $6 if the uptrend continues. The surge in DAO's price coincides with its achievement of a $430 million market capitalization and recognition by Gotbit Hedge Fund as the top launchpad in the industry.

Why Is DAO Maker (DAO) Soaring? Analyst Predicts Its Next Price Target

DAO Maker, the revolutionary decentralized autonomous organization (DAO) platform, has sparked excitement in the cryptosphere. Its price has been on a steady upward trajectory, reaching $2.31 at the time of writing, with a substantial 24-hour trading volume of $74,034,812 and an impressive 34.67% surge in the past day alone.

Market Analysis: Key Zones and Momentum

Top technical analyst One Intent (@oneintent_) meticulously analyzed the DAO Maker price action on the weekly chart, identifying crucial zones that have shaped the market over the past thousand days or so.

"We observe market-defined horizontal support around $1.2," One Intent stated, "which took a significant hit back in November 2022." However, in February 2023, bulls regained this critical level but faced diagonal resistance, creating obstacles for buyers.

Bullish Revival

Undeterred, the bulls persisted, and their efforts bore fruit. "In December 2023, bulls broke through the diagonal resistance that was rejected at horizontal support, leading to a diagonal test in January 2024," One Intent noted. "Resistance transformed into support."

As a result, bulls gained momentum, resulting in a strong weekly close above horizontal support last week. One Intent expressed optimism for the future, setting a target of approximately $6 if the uptrend continues.

Milestone and Industry Recognition

Beyond its price surge, DAO Maker has also achieved a significant milestone. Gotbit Hedge Fund (@gotbit_io), a prominent player in the industry, lauded DAO Maker for reaching a $430 million market capitalization and securing the top spot in the Launchapds Ranking.

"Bull market is imminent," Gotbit Hedge Fund declared, expressing their satisfaction with the performance of their "tier-1 client" DAO Maker. "Congratulations to $DAO team and investors, a true launchpad for serious founders!"

Analyst's Advice

Amidst positive technical indicators, bullish resurgence, and industry recognition, DAO Maker's price rise appears justified. However, One Intent cautions, "Only those with strong resolve and the ability to hold should participate in this rally."

Conclusion

DAO Maker's impressive performance has drawn the attention of analysts and investors alike. With its strong technical fundamentals, industry recognition, and potential for further growth, DAO Maker is a cryptocurrency worth monitoring closely. As always, it is crucial to conduct thorough research and invest wisely.