What to know:
- DOT price is holding near the $0.70–$0.75 support zone as a falling-wedge pattern signals a possible bullish reversal.
- A confirmed DOT price breakout above the wedge resistance could open the door toward $1.20 and $1.50.
- Polkadot network activity surged 17,200% in one day, with the transactions increasing from just six to 1,456.
Polkadot (DOT) is showing early signs of a potential recovery for the DOT price as its falling-wedge pattern develops. Buyers are defending support, while rising network activity could improve sentiment. However, sustained adoption and stronger buying pressure are needed to confirm a lasting bullish reversal.
At the time of writing, Polkadot is trading at $0.7522 with a 24-hour trading volume of $60.9 million and a market capitalization of $1.27 billion. Despite the signs of stability over the last 24 hours, the DOT price structure and network growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: Polkadot Price Eyes $0.84 as DOT Triangle Breakout Setup Strengthens
DOT Price Targets $1.50 as Wedge Takes Shape
According to the crypto analyst Crypto With Gopal, Polkadot (DOT) is forming a falling wedge on its daily chart after an extended downtrend, with price testing support around the $0.70–$0.75 area.
The narrowing structure suggests selling pressure could be weakening as buyers defend lower levels. If support holds, DOT may gain momentum and challenge the wedge’s upper trendline for a potential breakout.
Source: Crypto With Gopal’s X Post
An upward breakout past the top trendline would support the positive reversal formation and take the DOT price towards $1.20 to begin with.
In case of further follow-through, the higher technical target around $1.50 may get into focus. However, DOT needs to reverse the resistance level and maintain the buying interest first.
Polkadot Network Activity Surges 17,200% in One Day
The data from Chainspect further highlighted that the activity on the Polkadot blockchain has seen an impressive increase of 17,200% within one day, increasing daily transactions from six to 1,456.
Although the increase in percentages seems out of the ordinary, the very low numbers of transactions at the start make the percentages look more impressive.
Source: Chainspect’s X Post
This transaction spike shows the importance of looking at both percentage growth and absolute figures when analyzing the blockchain’s adoption rate.
For Polkadot to continue growing, it will need to keep seeing more transactions, more engagement from its users, and more activities taking place on its network. This would make the story of its recovery even stronger, especially if the increase is sustained.
Despite the bullish price predictions and network growth, the DOT price is still moving in neutral territory. However, the general conditions in the crypto market are improving, and a breakout in the DOT price could occur if the BTC price moves upward with strong potential.
Next steps for Polkadot will depend on whether the DOT price remains at the support and manages to break out of the falling wedge pattern.
Any breakout will likely help in creating bullish momentum and drawing buyers into the coin. A drop in network activity and support breakdown will only prolong the recovery.
Also Read: DOT Price Holds Critical Support as Bulls Target a Potential Rebound
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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