Polkadot shows a breakout pattern that could increase its price by 57% to hit $15.
Analysts identify a strong support level near $8.50, signaling rising buyer interest.
Traders are closely watching for a breakout above $9.50 to confirm upward price momentum.
The analyst has emerged as one of the key altcoins to watch after forming a bullish pennant pattern on its 4-hour chart. The setup signals a strong upward continuation, with analysts projecting a price surge of 57.49%. If the breakout materializes, DOT’s price could climb from its current level of $9.15 to test the $15 mark, a psychological and technical milestone.
Source: World Of Charts
As of the latest data, DOT opened at $8.728 and reached a session high of $9.150, marking a gain of 4.82%. The low point for the same period stood at $8.682, indicating ongoing price support around this level.
This movement highlights a consolidation phase where prices have been narrowing within two trendlines. The upper trendline is sloping downward, forming a resistance zone, while the lower trendline offers strong support near $8.50.
World of Charts , a prominent cryptocurrency analyst, shared the bullish projection on December 15, 2024, through Twitter.
According to the analyst, the symmetrical pennant suggests strong continuation, and the measured move from the start of the pattern predicts a $5.462 price increase. This would represent a total surge of 57.49%, driving DOT toward its next resistance near $15.
Rising Momentum Builds Investor Optimism
The breakout zone remains critical, particularly between $9.50 and $10, where traders expect DOT to face resistance. A strong move above this range could confirm the pennant breakout and trigger the anticipated upward momentum.
Traders are closely monitoring volume levels because higher trading activity often validates such patterns. Polkadot’s steady price movement also reflects growing interest from buyers accumulating positions near key support areas. The horizontal support near $8.50 has held firm over the past sessions, which signals confidence among investors.
Additionally, the bullish setup aligns with market sentiment as Polkadot’s price recovers from earlier declines in December. World of Charts’ technical analysis reinforces expectations for this potential move.
A breakout would not only confirm the pennant pattern but also draw increased attention from the broader trading community. If volume spikes and DOT closes above the critical $10 mark, the price could move quickly toward the $15 target.
Traders Monitor Key Levels and Breakout Confirmation
The bullish pennant has captured significant attention, with traders focusing on both price and volume signals for confirmation. The projected 57.49% surge suggests substantial gains for Polkadot, provided it breaks through the immediate resistance. For traders, the $9.50-$10 range remains the make-or-break zone to watch in the coming sessions.
If DOT clears this resistance, momentum could accelerate as buyers rush to capitalize on the breakout. Conversely, failure to break above this range may lead to further consolidation within the pattern. Traders emphasize the importance of patience while waiting for a clear move supported by trading volume.
Polkadot’s current price of $9.15, combined with its technical structure and analyst projections, positions it as one of the most promising altcoins in the near term. The bullish pennant signals a continuation pattern, with traders optimistic that DOT will reach the anticipated $15 price level.
