Future

Polkadot

Momentum

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/polkadot-shows-significant-growth-above-8-signaling-price-momentum/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Polkadot Shows Significant Growth Above $8, Signaling Price Momentum</a><br></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/polkadots-rise-signals-potential-price-surge-amidst-bitcoins-bullish-trend/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Polkadot</a> (<a href="https://en.coin-turk.com/polkadot-breaks-falling-wedge-pattern-to-signal-uptrend/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOT</a>) has registered a remarkable increase of over 100% in the last month. The <a href="https://en.coin-turk.com/geopolitical-tensions-push-bitcoin-and-altcoins-to-new-lows/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> emerged from a prolonged downward trend channel, indicating a shift in price direction. Following this breakout, DOT reclaimed the $8 level, where resistance previously functioned as support in earlier cycles. This level is deemed crucial for maintaining the upward momentum.</p>
<h2 id="price-surpasses-8-resistance">Price Surpasses $8 Resistance</h2>
<p style="text-align: justify">Polkadot’s price surged by 111% in the last 30 days, coinciding with a broader rise in crypto investments, allowing it to recover the $8 mark. This upward movement is bolstered by robust optimistic momentum and increasing trading volumes. The $8 level, previously acting as resistance, is now being tested as support.</p>
<p style="text-align: justify">The monthly chart reveals that Polkadot’s price is approaching the critical horizontal resistance level around $10. Historically, the $10 mark has served as both support and resistance across various market cycles. A successful breakout here could enhance the potential for the price to climb to $12.60.</p>
<h2 id="future-price-targets">Future Price Targets</h2>
<p style="text-align: justify">If the upward momentum persists, analysts believe Polkadot’s price could surpass the $10 level. The next critical resistance level lies around $9.91, and breaking through this could pave the way for further gains toward $10 and beyond. The Simple Moving Average (SMA) in the daily timeframe continues to support DOT’s upward trend, strengthening market optimism.</p>
<p style="text-align: justify">However, despite the upward trend, a negative reversal could lead the Polkadot price to retest the critical support level at $6.57. In such a scenario, strong selling pressure might drive the DOT price down to a significant bottom around $5.</p>
<p style="text-align: justify">Currently, Polkadot (DOT) trades at $8.53, reflecting a 35.65% increase over the past 24 hours. The market capitalization stands at $13.14 billion, with a 24-hour trading volume showing an increase of 271% to $3.03 billion.</p>
<p style="text-align: justify">The volatility in Polkadot’s price presents potential opportunities for traders, while also necessitating caution due to market fluctuations.</p>
<p>The post <a href="https://en.coin-turk.com/polkadot-shows-significant-growth-above-8-signaling-price-momentum/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Polkadot Shows Significant Growth Above $8, Signaling Price Momentum</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Polkadot Shows Significant Growth Above $8, Signaling Price Momentum

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