The crypto markets appear to have approached a crucial phase of times wherein a small wrong step may ease out the accumulated bullish pressure. After facing a minor pullback, the cryptos have triggered a tiny rebound that indicates the tokens could be following a recovery phase in easy instalments. Although the entire market appears to be preparing for the upcoming bull run, Polkadot (DOT) & Arbitrum (ARB) are expected to back off by 30% before recording a 50% to 60% jump.
A very popular analyst, Michael van de Poppe, shares his analysis for them and believes a small rejection could be fast approaching for both popular cryptos. Taking about Polkadot, Poppe says that the DOT price could face another 30% to 40% pullback, which may offer a huge buying opportunity for traders. However, after hitting the liquidity area, the price is expected to trigger a strong rebound and eventually reach $15.
“Great weekly candle across the board, including DOT.
Had a 30-40% correction, which are massive opportunities within a bull market.
I think we’re ready for the next upward impulse move, perhaps $15 for Polkadot,”
Moving ahead with Arbitrum, the analyst shares a similar price action in the coming days. Although the ARB price triggered a strong rebound from the crucial support, the possibility of a minor pullback has also emerged. Hence, the analyst looks at the probable entry in the $1.4 to $1.6 area, which is around 18% to 20% below the current levels.
“That one worked out.
It it gets back in the $1.40 to $1.60 area, it’s obviously an entry, but I think we’ll continue with the Layer 2’s,
Probably this one can surge to $3-4,”
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