TL;DR

Polkadot (DOT) remains well in the red on a weekly scale following the latest market decline. Nonetheless, some analysts are optimistic about the assets potential for significant gains in the near future, adding it to their portfolios.

DOTs Next Possible Move

Polkadots native token—DOT—tumbled severely during the latest market correction. Its price is down 20% on a weekly scale, briefly plunging below $6. However, it started recovering in the past several hours and is currently trading at around $7 (a 7% increase in the last 24 hours).

DOT Price, Source: CoinGecko One popular cryptocurrency trader who touched upon DOTs recent price turbulence is the X user FLASH. The analyst argued that the assets trajectory is the ugliest ever, but the trends might soon change for the better.

FLASH assumed that DOT will either continue dropping in the near future or ascend impressively toward the $20 mark. It seems like the trader is rooting for the second option since revealing they bought the dip.

#Polkadot $Dot

With that beautiful market structure broken, the ugliest chart ive ever seen perhaps! That ugly, i have to delete very soon! Head Shoulder or we confirm a bottom around 0.786, confirm bottom of W2, means V and Vol. soon!

Bought the dip! pic.twitter.com/DG2VQdBYAc

Another well-known analyst who added Polkadots asset to his portfolio is Michael van de Poppe. He recently claimed that the token has reached a cycle low on the BTC valuation, maintaining that fundamental progress is there.

Previous DOT Predictions

Many other analysts have outlined predictions on the asset recently. Last week, CRYPTOWIZARD suggested that DOTs value is on the verge of a volcanic eruption brewing. They assumed an 80% price increase should the coin overcome the major resistance zone of $9.60.

The crypto content creator Jake Gagain and the X user CryptoYoddha also gave their two cents. The former envisioned an all-time high sometime next year, while the latter forecasted a rise to $20 this summer. 

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