Polkadot (DOT) has broken out of a falling wedge pattern, indicating a potential bullish trend reversal with its price surging from $3.15 to $4.17.
The cryptocurrency’s 24-hour trading volume jumped 33.45% to $313.1 million, reflecting heightened market interest and improved liquidity. Technical indicators further support the bullish outlook as the Relative Strength Index (RSI) hovers near 66 while the Moving Average Convergence Divergence (MACD) shows a bullish signal.
Market analysts identify critical resistance levels at $4.20 and $4.68, noting that a sustained breakthrough could potentially drive DOT toward the $7.90 price target. The positive sentiment is reinforced by recent network enhancements that have strengthened Polkadot’s scalability capabilities and core value proposition.