Il Capo of Crypto, one of the most well-known analysts in the cryptocurrency world, shared his analysis about Polkadot (DOT) and Bitcoin (BTC) in his statement.
According to the analyst, DOT price is at a major support level after seeing rejection from the resistance point. il Capo claims that if this support holds, a rise to the same resistance level of $10 to $11 may be seen. According to the analyst, if this level is broken, the price of the token may reach 15 to 17 dollars.
il Capo listed the reasons for being bullish on the DOT price as follows:
- The arrival of Polkadot 2.0.
- Parachains
- Polkadot gaming industry (Mythical Games moving to DOT)
- AI integrations like PHA
In addition to his views on DOT, il Capo also shared his evaluations for Bitcoin.
According to the analyst, there is strong demand between the $59,000 and $61,000 levels, and a bounce may be possible as indicators are mostly bullish. il Capo said that if the BTC price breaks the $65,000 resistance level, the first target will be $68,000 to $69,000, and then the secondary target will be $74,000 to $75,000.
The analyst said that this bull scenario will become invalid if there are bearish signs between the previous liquidity zone of $57,000 and $59,000.
*This is not investment advice.