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Polkadot

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<p>Polkadot’s native token, DOT, is up 4% this week, trading around $6.92 at the time of writing. While this is a decent weekly gain, DOT’s price is still down from its 2023 yearly high of around $8.50 set in early November last year.</p> 
<p><a href="https://altfins.com/technical-analysis" target="_blank" rel="nofollow">According</a> to analysis from <a class="thirstylink" rel="nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true">altFINs</a>, DOT’s technical setup suggests potential for an uptrend in the near-term.</p> 
<h3 class="wp-block-heading" id="strong-trade-setup-strong"><strong>Trade Setup</strong></h3> 
<p>DOT’s trends are currently mixed, according to altFINs. While price action has been consolidation and pullbacks recently, DOT is starting to form a bullish Falling Wedge pattern on its chart.</p> 
<p><em>Trend Traders</em> may want to wait for a clear breakout from this pattern before entering new bullish positions, as a break above the upper falling trendline could see upside potential to the $8.00 area thereafter.</p>  
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<p><em>Swing Traders</em> have the option to try entering long on pullbacks toward support around $5.35 – $5.80 to capitalize on the emerging Falling Wedge. This would be an attractive zone for swing entries targeting further upside.</p> 
<h3 class="wp-block-heading" id="strong-pattern-indicators-strong"><strong>Pattern &amp; Indicators</strong></h3> 
<p><strong>The Falling Wedge</strong> is usually a bullish pattern, with price breaking upward when contracting trendlines finally converge. DOT’s neutral/mixed momentum signals (MACD bullish, RSI neutral around 50) suggest traders may want confirmation before trading the pattern.</p> 
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<p><em>Source: </em><strong><a class="thirstylink" rel="nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p> 
<p>DOT shows a neutral trend outlook on the medium-term time frame but remains in established uptrends for the short- and long-term. This aligns with altFIN’s analysis suggesting upside potential after its current corrective phase.</p> 
<h3 class="wp-block-heading" id="strong-support-resistance-strong"><strong>Support &amp; Resistance</strong></h3> 
<p>Key DOT support levels come in around $5.80 then the psychological $5.00 area under that. Major resistance is expected around $8.00 where DOT posted its recent 2023 high, with more distant resistance toward $10.00.</p> 
<p>Overall, DOT’s technical picture offers the ingredients for a possible trend reversal and resumption of its broader uptrend in the near future. Traders can watch for entries when support or resistance levels align with patterns or indicators signaling high-probability upside potential.</p> 
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<p>The post <a href="https://captainaltcoin.com/polkadot-dot-price-analysis-this-pattern-signals-uptrend-ahead/">Polkadot (DOT) Price Analysis – This Pattern Signals Uptrend Ahead</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Polkadot (DOT) Price Analysis – This Pattern Signals Uptrend Ahead

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