Polkadot

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<p>According to a technical analysis on TradingView by the <a href="https://www.tradingview.com/chart/DOTUSDT/lTUmq59g-DOTUSDT-is-Bullish-now-many-Traders-don-t-see-it/" target="_blank" rel="noopener noreferrer nofollow">user CobraVanguard,</a> the chances of another bullish spike for the cryptocurrency Polkadot (DOT) are now very high following a potential breakout pattern. The analysis suggests that DOT is currently forming a bullish wedge pattern, which is a technical chart pattern that signals a potential trend reversal from bearish to bullish.</p>
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<p>A bullish wedge pattern is characterized by two converging trendlines, where the price oscillates between these trendlines, forming lower highs and higher lows. This pattern is typically seen as a continuation pattern, indicating that the previous uptrend is likely to resume after a period of consolidation.</p>
<p>CobraVanguard’s analysis highlights several factors that support the potential for a bullish breakout:</p>
<ol>
 <li>Ascending chart structure: The chart shows an overall ascending structure, which is a bullish sign.</li>
 <li>Bullish wedge pattern: A bullish wedge pattern is visible on the chart, suggesting a potential trend reversal.</li>
 <li>Bullish divergence: The analysis identifies a bullish divergence, which is a technical indicator where the price makes lower lows while an oscillator (such as the Relative Strength Index) makes higher lows, suggesting potential bullish momentum.</li>
 <li>No breakout yet: While the pattern is forming, there has been no breakout yet, which means the potential for a bullish move remains.</li>
 <li>Falling wedge: The pattern is specifically identified as a falling wedge, which is a bullish continuation pattern.</li>
</ol>
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<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="486" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-1102-1024x486.png" alt="" class="wp-image-480509" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-1102-1024x486.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1102-300x142.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1102-768x364.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1102-1536x728.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1102-2048x971.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1102-316x150.png 316w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1102-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1102-738x350.png 738w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1102-788x373.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>If the breakout occurs, CobraVanguard provides potential price targets for DOT:</p>
<ul>
 <li>$7.830</li>
 <li>$8.150</li>
 <li>$8.530</li>
 <li>$8.950</li>
 <li>$9.300</li>
</ul>
<p>However, it’s important to note that the analysis also warns that if the wedge pattern is broken down with strong selling pressure (descending candles), the bullish scenario would be invalidated.</p>
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<p>The post <a href="https://captainaltcoin.com/polkadot-dot-flashing-bullish-signals-potential-price-targets-revealed-but-caution-advised/" rel="noopener noreferrer nofollow">Polkadot (DOT) Flashing Bullish Signals: Potential Price Targets Revealed, but Caution Advised</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Polkadot (DOT) Flashing Bullish Signals: Potential Price Targets Revealed, but Caution Advised

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