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Polkadot (DOT) Holds Above $7 Amid Volatility: Analysts Remain Bullish

Last week, Polkadot faced a bearish spell, slipping from $7.63 to $6.97. However, it managed to stay above the crucial $7 mark, finding stability as buyers re-entered the market, pushing DOT back to $7.05 by Saturday.

Crucial Juncture Ahead for Polkadot (DOT)

Currently, Polkadot is at a pivotal point, caught between support at $7 and resistance at $7.60. Breaking through the $7.60 barrier, aligned with the 200-day SMA, could launch DOT toward $8. Conversely, a breach of $7 support may lead to a dip to $6.40.

DOT’s Undervaluation Despite Technological Strides

Renowned analyst Michael van de Poppe highlights Polkadot’s undervaluation, particularly with recent upgrades like the JAM protocol. With a focus on real-world asset integration, Polkadot is making strategic strides, boasting six RWA-focused projects within its ecosystem.

“Polkadot ($DOT) remains heavily undervalued. With the recent JAM Upgrade and a strong focus on real-world assets, DOT is set for significant growth,” van de Poppe emphasized.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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