Polkadot's Price Discovery

Louis Sykes
October 14, 2021

Polkadot has shown some impressive strength in the last week.

Now that prices are back to the upper end of this range, a definitive breakout is only another $10 away.

This has all the same characteristics Solana, Axie Infinity, and Cardano showed before they all surged.

Accumulation, building a base... now we just need to wait for the breakout.

If Polkadot is above 50 bucks, it would be irresponsible to not be long.

The first target would be 73, but, given the magnitude of this base, we wouldn't be surprised to see at it over 100 in the coming months if the broader strength in the crypto environment holds up.

Of course, we'll need to evaluate how Bitcoin reacts to its former overhead supply. Chances are there'll be a consolidation of these gains at 64,000, meaning we'll likely have to be patient for a breakout.

But looking at the longer term, Polkadot is screaming "All Eyez On Me."

There could be some serious price discovery looking into next year.

Watch this space...

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Thanks for reading, and please let us know if you have any questions!

Allstarcharts Team

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