Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Polkadot (DOT) Breakout Alert, Traders Eye 75% Rally

Share This Post

Polkadot (DOT) Price Prediction

The post Polkadot (DOT) Breakout Alert, Traders Eye 75% Rally appeared first on Coinpedia Fintech News

After a significant price decline of over 50% since May 2024, Polkadot (DOT) is now poised for a notable upside rally. The potential reasons for this bullish speculation include recent price action, increased investor interest, and the current bullish market sentiment.

Polkadot (DOT) Technical Analysis and Upcoming Levels

According to expert technical analysis, since May 2024, DOT has followed a lower high and lower low price action pattern while facing resistance from a descending trendline. However, with the recent price rally, DOT has broken out of this trendline, shifting the sentiment from a downtrend to an uptrend.

Source: Trading View

Based on recent price action and historical momentum, there is a strong possibility that DOT could surge by 75% to reach $7.65 in the coming days. However, DOT may encounter several resistance levels along the way: Resistance (R1) at $5.1, R2 at $5.6, R3 at $6.5, and R4 at $7.6.

However, considering the current market sentiment, it appears that DOT could easily surpass this level in the coming days.

Despite this bullish outlook, DOT is currently trading below the 200-day Exponential Moving Average (EMA) on the daily timeframe, indicating a downtrend.

Bullish On-Chain Metrics and Current Price Momentum 

DOT is currently trading near $4.35 and has experienced a price jump of over 1.5% in the past 24 hours. During the same period, its trading volume dropped by 10%, indicating lower participation from traders and investors compared to the previous day.

Besides small price changes, on-chain metrics further support DOT’s positive outlook. According to on-chain analytics firm Coinglass, DOT’s long/short ratio currently stands at 1.07, indicating strong bullish sentiment among traders. Additionally, its open interest appears to be steadily rising, reflecting growing interest from community members. 

Source: Coinglass

Based on the data, DOT’s open interest has increased by 2.9% over the past 24 hours and 1.67% in the past four hours.

A combination of these on-chain metrics and technical analysis suggests that bulls are currently dominating the asset, which could support DOT in achieving a 75% rally in the coming days.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

XRP Will Explode—And This Korean Expert Says He’ll Be ‘Laughing’ At Critics

A Korean financial analyst who uses the name XForceGlobal has made bold claims about XRP’s future price, stating the cryptocurrency could reach between $10 and $20 in the coming months The

Pi Coin News: Expert Finally Reveals Why Binance Might Never List Pi Network

The post Pi Coin News: Expert Finally Reveals Why Binance Might Never List Pi Network appeared first on Coinpedia Fintech News Pi Coin’s price has been on a rollercoaster—rising to $298 before

All you wanted to know from web3 developer, but hesitated to ask

The following is a guest post from Hlib Rabchuk, PR Manager at Ethereum Ukraine Web3 is evolving at breakneck speed—new protocols emerge, developer trends shift, and the skills in demand today

Wall Street Bleeds, US Banks Cleared for Crypto, and More — Week in Review

Wall Street bleeds, US Banks cleared for crypto, SEC commissioner calls for 7 crypto reforms, and more in this Week in Review Week in Review Wall Street shed $285 trillion in value amid growing

Altseason Dead On Arrival? Data Shows Bitcoin Outperforming All Categories 

The first quarter of 2025 was dominated by talks of the altcoin season, as is usually the case when the bull cycle is ending In past cycles, capital tends to rotate from Bitcoin to other

Solana Faces Defining Level At $120 – Will History Repeat?

Solana continues to face mounting selling pressure as it struggles to reclaim the $150 level, with broader market uncertainty weighing heavily on price action Down nearly 60% from its all-time high,