Polkadot (DOT) Price and Possibilities of 70% Upsurge

  • DOT price appears prepared for new upswings after the alt flipped a critical resistance zone at $22.50 into the support floor.
  • Enthusiasts can expect a 33% upsurge towards $30.48 soon.
  • A daily candle close under $20.17 will cancel Polkadot’s bullish case.

Polkadot price exhibits surging signals following the latest reaction that flipped a long-standing hurdle into a foothold. This development will likely propel the alternative token higher, exploring the nearest resistance level.

DOT to Capitalize on Bullish Effort

Polkadot attempted to surpass the resistance barrier at $22.50 for seven days without success on each trial. Moreover, the obstacle means pain for Polkadot since the alt breached it first on 21 January Retests following the downswing haven’t yielded lucrative outcomes.

DOT price produced a 24-hour candlestick close beyond $22.50 on 3 April, suggesting a breakout. Moreover, the altcoin sustained above the newly converted support barrier after a successful retest of the level.

Enthusiasts may expect DOT to launch a new uptrend and run towards the hurdle around $30.48. Such a development would translate to a 33% surge, and Polkadot might pause the upside journey after the climb.

Though unlikely, buying pressure resurgence might see DOT price climbing towards the $38.03 value area, constituting a 70% run-up.

While things appear up for the altcoin, stability beyond the support barrier of $22.50 remains critical for a bullish scenario to play out. Moreover, DOT will rely on broad market sentiment for its upcoming trends. A sudden fall in Bitcoin price might ruin the global market outlook, triggering downswings.

Such developments will see DOT resorting to downward moves. Meanwhile, a 24hr candlestick close beneath $20.17 will cancel Polkadot’s bullish thesis. The plummets will see the altcoin converting a $22.50 foothold into resistance. Moreover, it will form a lower low under a bullish order, translating to bearish favoritism.

The crypto spectrum remained on an upside stance at this publication. The global crypto market capitalization surged 0.59% within the past 24 hours to $2.16 trillion.

Also, Bitcoin maintains well beyond the vital level of $46K, changing hands around $46,681.64 at this publication, following a 1.54% 24hr gain (Coinmarketcap data). Extended upside will mean increased bullish vigor in the market, bolstering DOT towards its higher objectives.

By Edward Richardson
No widgets found. Go to Widget page and add the widget in Offcanvas Sidebar Widget Area.