Dot's price was in the "group of leaders" that were the first to break out of the prolonged downward trend.
However, "the winner music didn't last long", after a 2-month rise in the DOTUSDT price with a result of +90%, consolidation has been going on for the 3rd month.
Roughly speaking, there is nowhere to fall below the price of the Polkadot token. The critical level from below is $4.83.
If we model Elliot waves on the current trading situation on the DOTUSD chart, we can assume that wave (2) is close to completion. The next wave is an upward wave (3), with the most conservative targets for its growth ranging from $10-10.50 to $12.30. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
A very large drop from the highs in the price of DOT cryptocurrency. About -90%. As a rule, after such declines in the sideways cycle the accumulation zone starts (large market participants), which is what we are observing now.
In the next bull cycle (distribution zone, that is, the reset of positions, sales by large market participants) 1.8-2 years (the average cycle is 4 years) at the highs, the price will be 8-10 times more expensive than now.
Solldy
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Great idea, first time I've seen it, but I've seen some points in similar ideas. Making your charts reminds me of something. I wonder if you take cluster analysis into account when writing your idea.