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Bullish Divergence Follows Polkadot Price
Polkadot price manifested bull ride vibes a couple of days before indicating a possible initiation of a Polkadot Season. The bull run escorted the asset to enter the top 5 cryptocurrencies including Cardano.
Despite both lost their positions, DOT successfully regained the lost position and currently is the fourth largest cryptocurrency according to market capitalization.
The Polkadot ecosystem is anticipated as the upcoming blockchain platform addressing the issues of the current trending ethereum ecosystem. And hence, many projects are scheduled to be released in 2021 which may rally the DOT price to the next level.
However, the projects currently working on the Polkadot ecosystem like Kusama(KSM), Polkastarter(POLS), Polkacover(CVR), Polkabridge(PVR), etc are performing exceptionally with a notable surge.
As mentioned by a popular analyst, Lark Davis, the Polka-based projects are currently undervalued and they will be the biggest moneymakers of 2021. Moreover, the analysts raised his DOT price prediction from $100 to $300.
I was wrong about Polka $dot… I used to think $100 was a reasonable target for this bull run. That is not the case. I now think $300 is much more likely.
— Lark Davis (@TheCryptoLark) February 19, 2021
DOT price Flys High!
The DOT price was trending in a narrow ascending channel for a couple of days, which compelled the price to remain below $35. However, the price broke the ascending channel and surged high to smash new ATH in the early trading hours.
The DOT price at the time of writing is on the verge to test the levels around the ATH yet again, within a very short timeframe. This indicates the strong bullish momentum the asset holds and also manifest the impassive run to form new higher levels.
Currently, the DOT price is $38.23 with a jump of 16.27% in the past 24 hours, just 1.03% lagging behind the ATH at $38.49. The bull run seems to break the $40 mark very soon forming a couple of ATH in the same working day and hence flying high in the coming days.
On the contrary, the RSI levels are already entered the overbought area above 80 levels and hence a slight pullback cannot be ruled out. Yet the Polkadot price is expected to rebound within a small timeframe and hit the target set at $100.