Polkadot Price Prediction, Will It Mirror Solana Success Story

Polkadot price could hit $10 if it stays above $8.

• According to Coingabbar Technical Analysis, The DOT price uptrend gains momentum through a breakout in the weekly chart channel.

• With a 124% recovery over the last three months from the 2023 low of $3.56, DOT's current rally hints at a potential breach of the $10 mark if the current momentum persists.

• The ongoing breakout rally challenges the critical 23.60% Fibonacci retracement level, suggesting a potential extension of the bullish trend.

• The recovery not only signifies a notable end to a lower high formation but also signals the release of previously constrained bullish momentum.

• An impressive 21.70% overnight surge in the DOT price is underscored by a bullish engulfing candle.

• Currently trading at $8.00, DOT indicates a 4.87% intraday dip, pointing towards a temporary pullback as the bullish momentum takes a breather.

• The key question remains: Will DOT manage to maintain its value above the 23.60% Fibonacci retracement level?

KEY LEVELS :

RESISTANCE LEVEL : $8.40-$9.00

SUPPORT LEVEL : $7.60-$7.20

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.