Polkadot: Why $11.96 Could Be Next for DOT
“`html
Polkadot – Why DOT (DOT 19459000) could be worth $11.96 next.
Contributor
Posted:
Share this article
-
Polkadot’s breakout above the descending channel suggests a potential upside of 56.86% to $11.96.
-
Strong short liquidations and stable social metrics are driving DOT’s bullish momentum.
The Polkadot ecosystem has gained significant traction following its breakout from a long-term declining pattern, indicating a robust trend reversal.
The latest trading figures show that DOT is currently at $7.55, with an impressive increase of 21.94% over the past day. The market capitalization now stands at approximately $11.49 billion, while trading volume has surged by 102.86% to reach $1.40 billion.
This upward movement places DOT near a crucial resistance threshold at $7.71 that will influence its further rally potential.
Interpreting the breakout for DOT’s future?
The recent breakthrough above the descending channel has raised expectations regarding DOT’s trajectory upward as it experiences immediate resistance at the key level of $7.71; overcoming this barrier could signal an extended climb towards future targets.
If successfully breached, traders can aim for the significant price target of $11.96—representing an attractive upside opportunity of around 56.86% from current levels.
A technical analysis shows that crossing above essential moving averages contributes positively to bullish sentiment while indicators like the Relative Strength Index (RSI), standing firm at around 76.8 hints toward vigorous buyer interest persistently in play.
//
p >
Source: TradingView.
/ p >
/ div >
b
/p >
Police
.
