Polkadot Primed for Major Move, Price Forecast Targets $24

Polkadot (DOT) is gearing up for a big move, as indicated by its steady upward trend in recent weeks. At the time of writing, Polkadot is trading at $9.45, boasting a 24-hour trading volume of $716.28 million and a market capitalization of $9.33 billion. Even though it has dipped slightly 2.46% in the last 24 hours, its overall momentum suggests that it is about to make a significant move.

Crypto analyst CryptoGuerrilla has expressed a bullish outlook on the trajectory of DOT’s price, indicating that its next significant macro target could reach around the $24 mark. According to his analysis based on a weekly chart denoting longer-term projections, this target might not materialize within weeks, but the analyst expects it to take place over a longer period.

According to short-term technical analysis, Polkadot is within an up-trending channel, which indicates the rise in investors’ confidence and suggests a continuous upward move. In addition, it has broken above the resistance at the $9.40 level, indicating a potential for further gains. Furthermore, an anticipated support zone is around $9.40 if market conditions turn bearish. Overall, DOT has favourable technical indications from the medium to long-term perspective.

Polkadot (DOT) Short-term Price Forecast

Changelly, a reputable platform known for its insightful cryptocurrency analysis, has recently released a comprehensive forecast for Polkadot’s price trajectory. This forecast stands out for its optimism, projecting a substantial 12.18% surge in Polkadot’s value. This surge will propel Polkadot’s price to $10.59 by March 29.

Looking into Changelly’s technical analysis, it can be witnessed that the bullish sentiment is at an impressive 93%, which suggests a strong agreement on the upward trend of DOT among traders and investors. In addition, this is supported by the Fear & Greed Index with a reading of 83, indicating extreme greed among market participants.

Polkadot’s potential trajectory has been further augmented by cryptocurrency experts who have studied historical price data and trends. By looking at these fluctuations, they expect that the average price of Polkadot will be about $10.26 by March 2024. Nevertheless, their projections also envisage various prices within this range, starting from $9.93 as well as $10.59 as an upper limit. 

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