DOT holders, should you believe in $15 price predictions?

However, before the market condition changed, an analysis revealed that there were chances of DOT touching $14–$15. Let’s take a look at DOT’s current state to see whether that can still be expected.highlighting that there were chances of DOT hitting $14–$15 in the coming weeks before reaching a market top somewhere in May.

If DOT manages to test its support near $0.92, then things might change in its favor. A successful test of that support could trigger a bull rally, allowing DOT to reach $15.The downtrend was accompanied by a 40% rise in trading volume, acting as a foundation for the bear rally. AMBCrypto’s analysis of Santiment’s data revealed that Polkadot’s Social Volume dropped. However, despite this, its Weighted Sentiment improved.This meant that derivatives buyers were actively buying DOT at its lower price. Moreover, its Open Interest went up while its price dropped.

A hike in the metric usually suggests that the on-going price trend might continue, further hinting at a continued price decline.Polkadot’s technical indicators also supported the bears. Both Polkadot’s Relative Strength Index and Money Flow Index registered downticks in the last few days.As a result, the blockchain’s number of transactions also followed a similar declining trend. Things in terms of captured value were also not up to par, as its revenue dropped.

Source: News Formal (newsformal.com)

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