Analyst predicts collapse for Polkadot (DOT)
An analyst with the nickname Altcoin Sherpa believes that Polkadot (DOT) may collapse by 56% compared to the current exchange rate level before it gains some stability
According to him, DOT can find support at significantly lower exchange rate levels:
"According to DOT, the range of $3 - $5 will be a good zone to start accumulating coins. In my opinion, the results of this blockchain are still a failure"
The analyst also watches the Cosmos (ATOM) and LooksRare (LOOKS) altcoins. In his opinion, ATOM and LOOKS are still in a strong downtrend, but there is a chance that they can form a short-term reversal pattern.:
"There are no reversal patterns in sight in the near future. The trend is still bearish, but a reversal may form in the medium term"
Regarding Bitcoin, Altcoin Sherpa believes that the asset will linger in bearish territory for a long period of time:
"Once the bottom is formed, it will take months to accumulate. In addition, the bottom itself may not form for several more months. Get ready for a protracted bear market"
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