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.