Polkadot Aims for Breakout with $4.75 Target Following Bullish Signals
Polkadot (DOT) is demonstrating bullish momentum, approaching key resistance with rising volume suggesting a potential breakout. Analysts indicate a target of $4.75, representing a 25% increase from current levels.
Key Points
- DOT is testing a major resistance level while trading volume increases, hinting at an imminent breakout.
- A close above $3.80 is essential to confirm the bullish scenario and attract further buying pressure.
- Strong support identified around $3.55; failure to hold may delay upward movement.
- If support holds, DOT could target the $5 zone in the near future.
- Current trading price is approximately $3.62, with a market cap over $5.8 billion and a 24-hour trading volume exceeding $382 million.
