Altcoins have taken this year by storm with many of them putting up unbelievable performances to date. One of such coins is DOT which has been nothing but amazing since the start of the year. The cryptocurrency made its trading debut in August 2020 and has since gained over 1,200% in value, securing the 8th position on the crypto ladder along the way.
DOT currently has a market cap of $36 billion and was trading at $39.48 at press time and has seen a 39% rise in the last 14 days. DOT touched an all-time high of $48.36 before retracting as bears pushed their way through below the 200-day SMA. DOT’s bullish momentum is likely to continue should buyers hold its price above the 200-day SMA ($38.07) and could see its price smash the immediate resistance level which stands at $40.05 (61.85% Fibonacci level). If bulls manage to push its price to the next target (78.6% Fibonacci level), its upward trajectory will continue as the digital coin can touch the $48.36 mark while staring at the $54 price point.