Polkadot price prediction: Altcoins are emerging as the biggest gainers following the greenlighting of 11 spot Bitcoin exchange-traded funds (ETFs). Ethereum started showing strength pre-ETF approval and has continued to guide altcoins on this northbound journey. Polkadot price is moving in tandem, after increasing by 22% to $8.45.
If bulls sit tight and avoid cashing out at the earliest sign of profit while increasing exposure to DOT, we could see the token pumping above $10 this week.
Read also: Bitcoin Price Prediction Post Spot ETF Approval, Is $60k Target Possible For BTC?
Polkadot Price Prediction: How To Remain Profitable With DOT
Bulls seem relieved following a rebound from support at $7 and the subsequent climbing above the 50-day Exponential Moving Average (EMA) (red), the 20-day EMA (blue), and most importantly, the break above the descending channel.
A daily candle close above the channel or the support at $8 is required to ascertain the sustainability of the uptrend.
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