The Polkadot (DOT) token hasactually seen substantial down pressure over the past coupleof weeks. This unfavorable efficiency was more exacerbated by the current decline of Bitcoin’s worth, which toppled listedbelow $40,000 over the past week.
However, the altcoin appears to be gathering momentum in the past coupleof days, having rebounded favorably from the $6 mark. A popular expert on the X platform has put forward an interesting forecast for DOT, stating the token looks set for a significant upward relocation in the coming weeks.
Can Polkadot Reach $17 In This Cycle?
In a recent post on X, popular crypto expert Michael van de Poppe keptinmind that the altcoins market is on the edge of a considerable rise. Specifically, the crypto expert singled out the Polkadot token as one of the possessions to appearance out for.
According to Poppe’s post on X, DOT is approaching a considerable assistance level in 3 days. The expert recognized the assistance zone inbetween $5.60 and $6 while highlighting the requirement for this level to hold strong.
3-day chart proving various important zones of the Polkadot cost | Source: Michael van de Poppe/X
If the assistance level holds, Michael van de Poppe thinks that Polkadot’s rate is primed for a significant run to the benefit in the present cycle. And the crypto expert put forward an supreme $17 target for the cryptocurrency if a breakout does takeplace.
This capacity cost action would represent a enormous 150% growth from the existing rate point. Nevertheless, this would still be a long method from the token’s all-time high of $54.98
It is worth keepinginmind that Michael van de Poppe has likewise recognized a rate zone that will be important to DOT’s possib