- The Polkadot (DOT) price continues to battle against resistance between $4.70-$5.00 as it approaches a potential breakthrough that could take it past $10.
- Breaking through resistance can confirm that DOT’s long-term price correction cycle has reached its end point.
- Various alternative cryptocurrencies display the same pattern which suggests an upcoming market recovery.
After a prolonged downtrend, Polkadot (DOT) appears to be on the verge of a potential breakout, according to recent market analysis. The cryptocurrency has been trading within a descending wedge pattern, a structure often associated with bullish reversals. As of the latest data, DOT is priced at $4.39, reflecting a 1.7% increase within the last 24 hours.
DOT Nears Breakout: Will It Soar Past $10?
An analysis of the price chart demonstrates DOT has experienced continuous price decline since achieving its maximum value last November. The downward movement of DOT forms lower highs and lower lows throughout a descending channel. The DOT price movement indicates that it might reach an essential price breakout point.
$Dot #Dot I Just Checked Altcoins Chart Deeply, & I Found That Most Of Coins Are Finally Ready For Recovery After Long Crash, But Still Hasn’t Broken Resistances, Polkadot Is One Of Them, Successful Breakout Can Send It Towards 10+. pic.twitter.com/G5Vu6WS02S
— World Of Charts (@WorldOfCharts1) March 17, 2025
The main resistance area exists between $4.70 and $5.00. Successful breaches tend to produce an upward price trend that brings higher trading volume to this resistance area. DOT price has potential to pass the $10 mark if it successfully overcomes upcoming resistance points which previously functioned as support zones during previous market cycles.
DOT Eyes Breakout: Key Levels to Watch
The current price momentum for DOT points towards $4.00 support as a vital defensive mechanism for users. A successful breakout depends primarily on DOT surpassing the critical resistance level between $4.70 and $5.00. The price may progress to reach $6.50 then $8.00 followed by $10.00 when bullish momentum sustains.
A confirmed breakout from the descending wedge pattern may signal a trend reversal, marking the end of DOT’s long-term correction. Broader altcoin market trends suggest a potential recovery across multiple assets.
Financial traders together with investors will observe DOT’s activities around its resistance blocks. The breakout process becomes more likely to accelerate as buying pressure increases coupled with institutional investment influx. The price may experience another consolidation phase if resistance area breakouts fail to occur then the price will likely attempt a new upward push.
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