Polkadot (DOT) is gaining positive momentum and could be poised for a significant price rise, according to crypto analysts.
Michaël van de Poppe, an expert in the field, has identified encouraging market dynamics for Polkadot, suggesting a potential upward trajectory in the coming days or weeks.
Polka dot Analyst Insights: Promising moment
Polkadot on the USDT pair showed a regular pattern of higher highs and lower lows, according to Van de Poppe, suggesting an increase in bullish momentum. He also pointed out that Polkadot’s Bitcoin pair is still around a bearish cycle, indicating a possible trend reversal. Van de Poppe theorized that Polkadot could return to its peak in the coming months based on these facts.
#Polka dot is starting to gain positive momentum as it makes higher highs and higher lows on the USDT pair.
The BTC pair is still at the cycle low, indicating a likely upward run on the horizon.
Perhaps $DOT may reach an all-time high in the coming months. pic.twitter.com/dewBRJO9dO
-Michaël van de Poppe (@CryptoMichNL) March 17, 2024
At the time of writing, Polkadot’s the price is $9.26with a 24-hour trading volume of $1.24 billion and a market capitalization of just over $9 billion.
DOT price up in the last 24 hours. Source: Coingecko
Cryptocurrency experts have been closely monitoring Polkadot’s price fluctuations since early 2023. Based on historical data and market trends, these analysts predict an average DOT rate of $13.70 by March 2024.
Total crypto market cap. Chart: TradingView
However, they recognize a range of potential outcomes, with minimum and maximum price estimates of $10 and $17, respectively.
Starting today @Polka dot @kusamanetwork and 6 higher #parachains they are now live on Dune!
Our mission is to make crypto data accessible and we are excited to help the #Polka dot ecosystem in partnership with @colorfulnotion ⚡
Start your data journey👇 https://t.co/mMs4iO9w96
– Dune (@DuneAnalytics) March 19, 2024
Blockchain Data Accessibility Revolutionized
Meanwhile, in a move that promises to revolutionize crypto data analysis for Polkadot and Kusama, Dune Analytics has announced a groundbreaking partnership with Colorful Notion. This collaboration marks a significant advancement in accessibility, bringing a wealth of on-chain data from these blockchains to the fingertips of Dune users for the first time.
Previously, analyzing on-chain activity in the Polkadot and Kusama ecosystems posed a challenge. However, this partnership empowers users with the ability to examine a rich set of data, including decoded substrate block data tables, extrinsic, calls, events, and transfers.
This integration signifies a crucial step towards demystifying the complexities of blockchain data within the Polkadot ecosystem. By making this information readily accessible and promoting easy-to-use analytics tools, the partnership between Dune Analytics and Colorful Notion holds immense potential for developers, researchers, and anyone interested in understanding the health and activity of the Polkadot network.
Featured image from Pexels, chart from TradingView
Disclaimer: The article is provided for educational purposes only. It does not represent NewsBTC’s opinion on buying, selling or holding any investments and, naturally, investing carries risks. We advise that you conduct your own research before making any investment decisions. Use the information provided on this website at your own risk.
