Big Polkadot (DOT) Price Boom Ahead? Traders And Technicals Say So
NOIDA (CoinChapter.com) — Polkadot (DOT) has surged nearly 7% in recent trading sessions, trading just below the critical $6 resistance. The move comes as traders grow increasingly optimistic about a potential breakout, with bullish cues such as rising volume, momentum indicators, and key technical patterns driving sentiment.
Analysts target $12 and beyond as DOT consolidates within a crucial supply zone, setting the stage for a significant rally. All eyes are now on whether DOT can clear its resistance to confirm this bullish trajectory.
Polkadot Breaks Barriers: What Analysts Are Predicting
Polkadot’s native token is the latest to catch investor attention following the recent bullish breakout of the wider crypto market. Several independent analysts, like Crypto Lalit, shared posts on social media predicting a DOT price rally to $11, with Fibonacci levels extending the target to $17.81.
Resistance near $6 is crucial for the Polkadot token.
The 4-hour and weekly charts highlight strengthening momentum. The MACD has formed a bullish crossover, while the RSI is climbing steadily from oversold levels.
One analyst set a target near $17 for DOT price. Source: X
Meanwhile, the Stonksy oscillator signals growing optimism among buyers. Another analyst, SussexTrader, echoed this sentiment, suggesting that DOT’s short-term targets align at $12, with further growth possible in this bull run.
However, resistance at $6 remains the key test. Historically, this level has acted as a significant barrier, requiring sustained volume to breach. Should DOT fail to clear this zone, retracements to $5 or even $4.50 could occur.
With strong market sentiment and technical indicators favoring the upside, a sustained breakout appears more likely for DOT. If successful, Polkadot could reclaim higher ground, making $12 a realistic near-term goal and positioning itself for even greater gains in the ongoing bull market.
Breakout From Technical Setup Could Help Continue Rally
Meanwhile, the DOT USD pair rode the wider market bullishness to break out of a bullish technical setup called the ‘falling wedge.’
DOT USD pair formed a bullish technical setup with a 174% upside target. Source: Tradingview
Two converging downward trendlines that connect lower highs and lower lows form the falling wedge, a bullish reversal. The narrowing structure shows that, despite the ongoing downtrend, the bearish momentum is gradually weakening, often preceding an upward breakout.
The key feature of a falling wedge is that the slope of the lower trendline is steeper than that of the upper trendline, indicating that selling pressure is dissipating. When the breakout occurs—typically upward—it signals buyers taking control.
To estimate the potential price target after a breakout, traders measure the vertical distance between the widest points of the wedge and project that range from the breakout point upwards.
According to technical analysis rules, the DOT USD conversion rate might rally nearly 174% from its current level to reach the pattern’s projected target of around $16.
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