DOT Price Surge Incoming? The Polkadot Chart Everyone Is Talking About!

The Polkadot price is up 7%, now trading around $7.20. This is still below $10.73, 2024’s yearly high.

The price of Polkadot (DOT) has surged over 7% in the past 24 hours, and is now trading at $7.20, according to CoinMarketCap.

The DOT price is still far from the $10.73 level, which was the highest point reached in 2024. However, World of Charts recently shared a compelling DOT chart with his 41,000 followers on X, which has sparked discussions across the crypto community.

The chart shows that Polkadot has broken free from a long-term descending trendline, which began in 2021. This breakout suggests that the bearish trend may be losing steam.

A strong support zone has formed between $6 and $6.50, where DOT found stability and established a foundation for potential upward movement.

The $8.50-$9 range, which previously acted as resistance, has now flipped to support following the breakout. More importantly, the Polkadot price has successfully retested the $6-$7 range, validating it as new support and setting the stage for further gains.

Polkadot Price Targets and Market Structure

The chart also identifies $13 as the immediate resistance level to watch. Looking at the bigger picture, there’s a projected move toward $30, which would represent a 377% increase from the $6.50 retest level.

The market structure shows promising signs with a series of higher lows and highs, while increased volume during the breakout suggests genuine buying interest. Key Fibonacci retracement levels also align with these movements, adding weight to the bullish outlook.

For traders and investors who are closely following DOT’s price action, the conservative target in the shorter term is around $13-$15. The more optimistic scenario suggests a potential climb to $30 by mid to late 2025, although this timeline is speculative and depends on broader market conditions.

Read also: This Crypto Expert Predicts Where The Kaspa (KAS) Price Is Headed Next

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