Polkadot is testing an important price level right now that could decide where it goes next. According to an analysis shared by prominent analyst World Of Charts on X (formerly Twitter), DOT’s price is pushing against resistance after falling for a while. 

The analyst suggests that many altcoins, including Polkadot, are showing signs of recovery, but a confirmed breakout is still needed to validate a bullish trend.

DOT’s price has been moving in what traders call a falling wedge pattern; this often happens before prices turn around and go up. The pattern shows lower highs and lower lows that get closer together. At present, DOT is testing the upper boundary of this structure, indicating the possibility of an upward move if buyers gain control.

DOT has found support around $4.00 in the past. The next hurdle is between $4.80 and $5.00. If it breaks above that, we might see it climb toward $10 or higher.

The chart suggests that an attempted breakout is forming, with an increasing chance of upward momentum. If Polkadot’s price manages to break through the resistance convincingly, bullish momentum could accelerate, driving it toward higher levels.

The projected price movement illustrated in the analysis shows a strong rally once resistance is cleared. If buyers sustain momentum, Polkadot could aim for $7 to $10+, aligning with the analyst’s expectations. However, failure to break out may result in price rejection, potentially leading to a continuation of the current downtrend.

Read Also: Why is BinaryX (BNX) Price Pumping?

The tweet from World Of Charts highlights that many altcoins are showing early signs of World Of Charts mentioned that many altcoins are starting to recover after being down for a long time. But they warned that important resistance levels haven’t been broken yet, so it’s smart to wait for confirmation before expecting prices to take off.

For DOT, everything depends on whether buyers can keep pushing the price up and maintain the breakout. If successful, this could mark the beginning of a larger uptrend, attracting more buyers into the market. Until then, traders and investors will closely monitor DOT’s price action to determine the next move.

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The post This Analyst Predicts Polkadot (DOT) Price Could Hit $10+ If Bulls Can Do This! appeared first on CaptainAltcoin.

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