- The analyst uses the weekly bullish order block to predict the exact bottom for the polkadot price.
- Proponents see the Parachain launch event on December 18 as a catalyst with a positive impact on the Polkadot price.
- Efinity, the cross-chain NFT platform, could be the winner of the fifth Parachain slot on the Polkadot network.
- Polkadot, a blue-chip crypto with long-term potential, could continue its upward trend as general risk sentiment turns positive.
The Polkadot price has gained 4.3% in the past 24 hours. Analysts have predicted the exact low point for Polkadot ahead of the Parachain launch event on December 18, 2021. The first five winners of the Parachain slots will kick off their projects in the Polkadot ecosystem at the event.
Polkadot could hit its exact bottom below $ 17
Cryptocurrency analysts from YouTube channel “The Art of Crypto” rated the Polkadot price trend and predicted the exact bottom for the altcoin. The analyst has used the weekly “Order Block,” a forex strategy in which market behavior indicates the collection of orders from financial institutions and banks, to predict the bottom of Bitcoin and Ethereum.
The pseudonymous analyst believes Polkadot could hit its exact bottom in the order block from $ 17.7 to $ 11.45. The analyst says
When we get back there [below $17.7], then it will be the lowest period for polkadot.
Proponents have noted that the Parachain slot’s top five winners launch event on December 18th could be a positive catalyst for the price of the altcoin. Efinity, the cross-chain NFT platform, is currently close to winning its fifth slot auction. The results will be announced on December 16, 2021.
Dan Reecer, VP of Growth at Acala Network and Karura, recently assisted Efinity on the fifth Parachain slot auction.
The altcoin is considered a blue-chip crypto, and analysts believe that Polkadot has long-term potential if it continues its upward trend.
@ Hayess5178, a pseudonymous cryptocurrency analyst, is optimistic about Polkadot. He recently tweeted:
The DOT is up 13% since buying the drop on support. Pretty much bought the bottom of this dip. Not a mega profit, but under these market conditions 13% is good.
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