The price of Polkado has crashed in the past few years and now they are soaring near their record low level. DOT is traded at $ 4.95 on Thursday morning, decreasing by 56% from the highest level in November last year. Let’s look at some of the main reasons why the coin of Poral Cado may soon return to normal.
The price of the shelter has strong technical data
The first main reason why the price of a pole can be on the threshold of a long -term break out for bull, is that it has strong technical data, especially in a weekly diagram.
This schedule shows that the price of DOT remains at the three -year stage of consolidation. He remained inside the key support of $ 3.65 and resistance of $ 11.65 during this period. Attempts to fall below the support failed four times, while they had a strong bull breakthrough above 11.65 US dollars, failed twice.
This price action is a sign that the coin has formed a four -fold bottom, which is an extended version of a double -path pattern. Therefore, using only this template, and the fact that the coin did not fall below $ 3.65, at least four times, there are signs that she will soon have a bull breakthrough.
#Polkadot#Bluechips later they will say that this is a guy who bought a legendary four -fold bottom in 2025!
There are signs that the price of the poisoning passes the accumulation phase. One of these signs is that the accumulation and distribution indicator continues to grow during this consolidation.
The accumulation phase is usually the first part of the theory of Wiccoff. Then follows the markup phase, which has a higher demand than the offer. Consequently, in this case there are signs that the price of Poralkado will fall to the marking stage in the coming weeks.
Such a step will be confirmed if the coin rises above the key resistance of $ 11.65, which is approximately 126% higher than the current level. As a result of the break, the price of the pole of dollars will increase above this point, the recovery point by 50%, which is approximately 500% higher than the current level.
This point of view is additionally confirmed by the fact that the price of Poral Cadio will soon begin the Elliot’s wave template. The first part of it is optimistic, and can see how it increases to $ 15, 23.6% of the level of retro chau. Then he will go, although a brief rollback, and then enter the third bull phase up to $ 30.
DOT Price Chart by TradingView
Catalysts at a point price
There are several catalysts at the price of shelter. Firstly, there are high chances that the securities and exchanges commission (SEC) will approve the ETF Spot Dot at the end of this year.
In addition, this is one of the largest players in the crypto industry with a market capitalization of more than $ 8 billion. It is also done in the US cryptocurrency and has similar functions with other tokens such as Ethereum and Cardano.
Secondly, Poralkado is one of the most energy -efficient blockchain networks in crypto -industrialism. This is an important aspect, because many companies consider their carbon mark when choosing their blockchain suppliers.
Thirds, the price of a shelter can rise because it passes a comprehensive update as part of the Polkadot 2.0 process. The new Polkadot will be different from the initial one. For example, it will have EVM functions that allow developers to easily build it.
In the past, the developers had to go through a long and expensive auction process in paracation in order to have their own applications on the network.
