Polkadot (DOT) could target $75 next, popular crypto analyst says

• DOT deed a caller all-time precocious of $53.04 connected 2 November

• The coin is much than 1,800% up since it traded astatine $2.70 connected 20 August 2020

Polkadot presently trades supra $52 against the US dollar, up by 15% successful the past 24 hours and looking apt to proceed successful an upward trajectory.

After breaking supra $50.00, Polkadot has established a caller all-time precocious and it could proceed higher up of its highly anticipated parachains auctions launch.

The coin’s imaginable rally has seen respected crypto expert Michael van de Poppe foretell a tally to $75. The expert shared the illustration beneath and noted that DOT is apt to deed the people if bulls clasp important levels.

DOT/USD illustration showing imaginable terms people for Polkadot. Source: Michael van de Poppe on Twitter.

According to the analyst, Polkadot has a batch of momentum, with the hype astir its parachains motorboat adding to the upside potential. The method representation shows the cryptocurrency did retest the erstwhile ATH portion connected the regular chart.

This should physique into an upside continuation signifier that could spot DOT surpass $75, van de Poppe added. There’s adjacent an upside accidental for bulls to people $115 successful this bull cycle, helium pointed retired successful a video analysis of the coin’s method outlook.

DOT hits caller all-time high

DOT deed a caller all-time precocious of $53.04 connected 2 November and has seen profit-taking deals pare immoderate of the gains. Despite this, DOT/USD remains bullish with implicit 60% gains successful 30 days and implicit 1130% successful the past year. Notably, Polkadot is astir 1,825% higher since touching a debased of $2.70 connected 20 August 2020.

The seventh-ranked cryptocurrency has overtaken XRP by marketplace cap. With DOT’s worth arsenic of penning astatine $52.11, the crypto’s marketplace headdress stands astatine $54.5 billion. XRP connected the different manus is trading astatine $1.11 to spot the Ripple coin’s marketplace headdress basal astatine $52 billion.

While the expert thinks DOT terms volition emergence successful the abbreviated term, helium has identified cardinal enactment levels astir the $45-$43 area. He has besides offered a portion of proposal to investors, urging caller entrants not to FOMO but to get successful connected the low.

Alongside Polkadot, van de Poppe has singled retired Cosmos (ATOM) arsenic different coin acceptable to scope a caller high. The 22nd ranked coin is trading astatine $37.69 astatine the clip of writing, astir 15% down from its all-time precocious of $44.42 reached connected 20 September 2021.