DOTUpdated DOTUSD: Polkadot Elliott Waves and 2024 Potential
The Dot is the token of the Polkadot network platform, one of the older generation of crypto currencies. It is touted for Web3 interoperability with cross-blockchain transferability.
It has a fairly robust trading history since 2020 with an 2021 all-time high of about USD 56. In the subsequent bear market, it traded down to about $3.50 in the Fall of 2023. It has experienced a resurgence since to upper single-digit dollar prices.
It has a fairly robust trading history since 2020 with an 2021 all-time high of about USD 56. In the subsequent bear market, it traded down to about $3.50 in the Fall of 2023. It has experienced a resurgence since to upper single-digit dollar prices.
Note
Polkadot’s resurgency resulted in a winter high of $9.06, which marked the end of wave one in preparation of the 2024 bull market. After a sharp ABC-correction in wave two, retracing about one third of its value, DOT regained drive for wave three which should at least triple its price at the 1.618 Fibonacci extension level, if nor exceed that at the 2.618 level which almost moves the decimal point.Note
Polkadot appears to be making progress in its wave three to new highs. After a significant correction in Minor two it appears in wave three of Intermediate three, which should be a power laden position to excel, and perhaps double in price in April.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.