Polkadot's Cryptocurrency Experiences 10% Rise, Analysts Predict Further Growth

According to CryptoPotato, Polkadot's native cryptocurrency, DOT, has seen a 10% increase over the past two weeks and is currently trading around $7.50. This rise has led to expectations of further growth, with key metrics indicating a moderate momentum that could potentially lead to continued price increases. Crypto Yapper, a cryptocurrency analyst, has suggested that DOT's price has broken out of a specific consolidation pattern and is now undergoing a 'beautiful retest.' The analyst believes that the asset's previous resistance has now become support, indicating that it could aim for higher targets. 'I expect Polkadot to be trading around the $10 soon,' the analyst predicted. Another analyst, Block Diversity, also predicted a price rally to almost $14, provided DOT continues to trade above the major resistance level of $6.90. Other analysts, including Crypto Thanos and Crypto Tony, have also shared their views. Crypto Thanos suggested that the $6-$7.50 range was for accumulation only, setting $10 as the next goal. Crypto Tony, on the other hand, had previously stated that they were looking for a safe entry once the asset exceeded the $7.40 resistance mark. In terms of DOT price predictions, it is worth noting some essential indicators. The Relative Strength Index (RSI), which provides insights into the momentum and potential reversal points of price movements, is one such indicator. The RSI for DOT currently stands at 54. Another important metric is the stochastic oscillator, a momentum indicator that compares a particular closing price of a digital asset to a range of its prices over a certain period of time. As of now, the metric points at 74, according to CryptoQuant.