Polkadot

<ul>
 <li><strong>Polkadot (DOT) price surged 7% in the past week.</strong></li>
 <li><strong>Analysts are bullish on DOT, foreseeing upward potential akin to ETH.</strong></li>
</ul>
<p>The altcoin market has been grappling with a persistent bearish trend over the past month, hitting new recent lows. Among them, Polkadot’s native token DOT plummeted to a six-month low of $5.389 just five days ago. However, showing resilience, DOT swiftly recovered to $6.442 within three days, marking a 7% surge over the past week.</p>
<p>Currently, DOT is <a href="https://coinmarketcap.com/currencies/polkadot-new/" rel="noopener noreferrer nofollow">trading</a> at $6.12, reflecting a 4% decline, with trading volume down by 42%. It remains 88% below its all-time high.</p>
<p>Despite recent challenges, analysts like Michael Van De Poppe are bullish on DOT, noting a potential upswing similar to <a href="https://thenewscrypto.com/spot-ethereum-etf-decision-looms-as-secs-deadline-draws-near/" rel="noopener noreferrer nofollow">Ethereum</a>’s trajectory. Van De Poppe suggests that DOT’s current valuations are remarkably low and anticipates significant growth within the Polkadot ecosystem.</p>
<h3 class="wp-block-heading" id="h-can-dot-bulls-maintain-momentum">Can DOT Bulls Maintain Momentum?</h3>
<p>Examining DOT’s trajectory, it currently maintains bullish momentum, with the 9-day EMA sitting at $6.126. The daily <a href="https://in.tradingview.com/chart/EJXIwxE9/?symbol=BINANCE%3ADOTUSDT" rel="noopener noreferrer nofollow">RSI</a> stands at 47, indicating proximity to oversold conditions.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXelopLgCvmyhVK8YSiHOH4J4s3YmUQByqkpjNdbTGN7W6d0pRYTAWfFTLEIGJcNAEy-sZp_094PFHn_9F8gHYSVEdaPDAI0elDoVuTCOIaZhUN8LF64c-Vl22YbnwAnDQHKIXJdp94-UiA1buqXn1LdPr4I?key=6IfU7DZopfZr3csRwUvhew" alt="">
  <figcaption class="wp-element-caption">
   DOT Price Chart, Source;TradingView
  </figcaption>
 </figure>
</div>
<p>For DOT bulls, maintaining momentum is crucial. The next major resistance levels to watch are at $6.7, with potential further targets at $7.2 if the upward trend persists.</p>
<p>Conversely, if bearish sentiment prevails, DOT could retreat to support levels around $5.7 or potentially as low as $5.4.</p>

Is Polkadot (DOT) Positioned for an Imminent Bull Run?

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