Polkadot (DOT) Surges Toward $7.90 as Bulls Take Control

Polkadot's native token DOT is staging a fierce comeback, with its price trajectory now laser-focused on the $7.90 resistance level. The blockchain interoperability darling has flipped its technical structure bullish after weeks of sideways action—just as traders were writing off altcoins for dead.

Technical breakout or temporary relief rally? The charts suggest DOT's infrastructure narrative might finally be catching up to its hype. Meanwhile, Bitcoin maximalists are muttering about 'altseason' like it's a dirty word.

One thing's certain: if this rally holds, a bunch of overleveraged shorts are about to become very unhappy campers. Welcome back to crypto volatility—where the fundamentals are made up and the technicals barely matter.

• Polkadot (DOT) breaks above a bullish falling wedge to continue towards $7.90.
• Polkadot price increases 2.69%, showing renewed investor interest today.
• Polkadot aims for a breakthrough above the MA 50 to affirm bullishness.

Polkadot (DOT) is beginning to show signs of strength despite a highly flat cryptocurrency market. DOT recorded a 2.69% increase in price in the past 24 hours, showing increased investor interest. Also, the token’s price action in the previous week reflects a period of relative stability.

At the time of writing, DOT is trading NEAR $3.44 with a 24-hour trading volume of $196.37 million, up by 21.5%. Its market capitalization has also reached $5.66 billion, thus cementing its spot as one of the most keenly tracked altcoins.

A closer look at the price chart for one week, DOT experienced a sharp decline from more than $3.60 to nearly $3.35 due to sell pressure. But that trend didn’t continue for long.

Soon after, the token stabilized back into a consolidation phase, fluctuating within a narrow range of $3.33 and $3.40.

Polkadot Breakout Above $4 Confirms Bullish Reversal

This sideways range was also paired with low volume, which signaled temporary indecision. Buyers later did start re-entering, facilitated by a series of green candles that drove DOT through the $3.40 resistance level and up to about $3.56.

As a result, $3.30 now becomes an important support point, and $3.60 is the next resistance area. Meanwhile, technical work has also stood out prominently in emphasizing a descending wedge formation taking shape on Polkadot’s daily price graph.

According to cryptocurrency analyst Jonathan Carter, this formation, which is a classic bullish reversal signal, has appeared after a long consolidation. Price has tightened in the upper part of the wedge, which is an ideal spot for breakouts to occur.

DOT right now also is underneath the upper resistance of the wedge and the 50-day moving average, which lies somewhere in the $4.00 to $4.50 range. A definitive breakout above there most likely will confirm a bullish reversal.

Polkadot Momentum Builds Toward Higher Resistance

Furthermore, three strong bullish targets have appeared at $5.25, $6.50, and $7.90. The first target likely represents the size of the wedge extended upward, and the remaining levels are Fibonacci extensions.

To sustain strength in this breakout, there will have to be increased trading volume and closure above the 50-day moving average by day’s close. The chart shows Polkadot’s price is moving sideways for now, with signs pointing to a possible upward move.

However, this early momentum needs more proof. If DOT stays above the 50-day moving average with strong buying volume, it could start a bigger rally toward higher resistance levels in the coming weeks.

Also Read: Polkadot’s Bullish Surge Predicted, Experts Eye $8 Target Amid Positive Sentiment