Summary
TLDR: Polkadot’s price is expected to increase due to institutional support and positive investor sentiment. The altcoin could see a 22.89% rally and reach $10.67 if it breaks out of a falling wedge pattern. However, falling below $8 support could invalidate this bullish prediction. Always conduct your own research before making financial decisions.
Key Points
1. Polkadot (DOT) price is on the path to a massive increase, potentially helping the altcoin recover from recent losses.
2. Institutions significantly influence Polkadot’s price, with Q1 seeing significant inflows from institutional investors totaling about $17 million, positioning DOT favorably compared to other altcoins.
3. Polkadot’s price is currently trading at $8.5 in a falling wedge pattern, with the potential for a 22.89% rally that could send DOT to test the resistance level at $10.67 and reclaim $10 as a support floor.