CandleFocus Polkadot in the Charts: What do On-Chain Data and Technical Analysis Indicate for DOT’s Price?
2024-10-04
Author: Content Editor
The recent market correction has caused several altcoins, including Polkadot (DOT), to experience a drop in price. However, on-chain metrics suggest that the number of active users and the amount of DOT transferred daily have been increasing, indicating a positive trend for the altcoin. Analysts predict that DOT is on the verge of a significant breakout from a falling wedge pattern, with projected targets set at $11.83, $18.41, $26.30, and $37.53. Market observers and investment firm TradingShot also suggest a promising outlook for DOT, with the potential for a price surge reaching $200 by the end of 2025.
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