This Analyst Predicts Polkadot (DOT) Price Could Hit $10+ If Bulls Can Do This!

Polkadot (DOT) is testing an important price level right now that could decide where it goes next. According to an analysis shared by prominent

Prominent crypto analyst, World Of Charts, has predicted that Polkadot (DOT) price could hit $10 if bulls manage to clear a key resistance level.

Polkadot Testing Crucial Resistance

As shared by the analyst on X (formerly Twitter), Polkadot is currently testing an important price level that could decide the next move for the token.

The analyst noted that many altcoins, including Polkadot, are showing signs of recovery after spending a long time in a downtrend. However, the handles at pivotal resistance levels remain intact, suggesting that a confirmed breakout is still needed to validate a bullish trend.

Polkadot’s price has been moving in what traders call a falling wedge pattern; this often happens before prices turn around and go up. The pattern shows lower highs and lower lows that get closer together.

At present, DOT is testing the upper boundary of this structure, indicating the possibility of an upward move if buyers can gain control.

The next move will depend on whether the bulls can push the price higher and close above the handle, paving the way for a potential rally. A failure to do so may result in the price being rejected, potentially leading to a continuation of the current downtrend.

The analyst suggests that breaking above the handle might clear the way for a move toward the $7 to $10 range, while a failure to do so may push the price lower, continuing the current trend.

Many Altcoins Show Early Signs Of Recovery

The tweet from World Of Charts also highlights that many altcoins are starting to show early signs of recovery after being down for a long time.

However, they warned that important resistance levels haven’t been broken yet, so it’s smart to wait for confirmation before expecting prices to take off.

For DOT, everything depends on whether buyers can keep pushing the price up and maintain the breakout. If successful, this could mark the beginning of a larger uptrend, attracting more buyers into the market.

Until then, traders and investors will closely monitor DOT’s price action to determine the next move.