DOT vs USD.
The coin is trading very close to its all-time highs ($ 50 area) and we have many prerequisites to rewrite it.
1) - Soon on November 11, auctions for parachains will begin. This means that coins will go out of circulation for 2 years, which in turn reduces the supply pressure, which, accordingly, is more likely to have a positive effect on the price.
2) - If we take the chart and adapt it to the Elliott wave structure, we will see that Polkadot is missing the 5th wave, the target for which lies in the area of$ 70 (highlighted by a gray rectangle). And these are the minimum targets without taking into account the fact that we can get growth stretching against the background of new auctions for parachains, and then even a price of $ 100 per coin will not be surprising.
3)- We are still moving in a trend (we are above the moving average with a period of 100, this is the blue line on the chart), so there is no need to worry about a trend change yet.
If you have just joined the cryptocurrency market, DOT is one of the few coins that has every chance to bring profit to its holders.
The coin is trading very close to its all-time highs ($ 50 area) and we have many prerequisites to rewrite it.
1) - Soon on November 11, auctions for parachains will begin. This means that coins will go out of circulation for 2 years, which in turn reduces the supply pressure, which, accordingly, is more likely to have a positive effect on the price.
2) - If we take the chart and adapt it to the Elliott wave structure, we will see that Polkadot is missing the 5th wave, the target for which lies in the area of$ 70 (highlighted by a gray rectangle). And these are the minimum targets without taking into account the fact that we can get growth stretching against the background of new auctions for parachains, and then even a price of $ 100 per coin will not be surprising.
3)- We are still moving in a trend (we are above the moving average with a period of 100, this is the blue line on the chart), so there is no need to worry about a trend change yet.
If you have just joined the cryptocurrency market, DOT is one of the few coins that has every chance to bring profit to its holders.