- Polkadot (DOT) faces renewed bearish pressure, trading at $2.03 with weekly and daily declines.
- Analysts cite strong wedge-pattern support and accumulating demand as potential triggers for a future rebound.
- Market forecasts anticipate a possible recovery toward the $4.46 range in 2025, with long-term targets extending much higher.
Polkadot (DOT) is currently trading at $2.01, reflecting a 7.77% decline in the past 24 hours. Market activity also softened, with daily trading volume slipping 2.3% to $256.37 million. The seven-day trend shows similar weakness, as DOT remains down 12.58%, underscoring persistent selling pressure across the broader crypto market.
Despite the decline, technical observers are closely watching the asset’s interaction with a major long-term support region. On the weekly chart, DOT is approaching the lower boundary of a falling wedge pattern, a formation often interpreted as a potential reversal signal when accompanied by strong buyer interest.
Polkadot Shows Signs of Recovery
Crypto analyst Jonathan Carter reported that Polkadot is “attempting to rebound from the lower edge of the falling wedge,” noting visible accumulation among traders who view the zone as an attractive entry point. According to Carter, this defensive activity suggests that buyers are actively positioned to prevent deeper declines.
Should DOT maintain support, Carter outlined a sequence of potential recovery targets. These include $3.00, $4.30, $7.00, $10.50, $24.00, and eventually $50.00, representing levels where past trading patterns indicate notable resistance and momentum shifts.
While these projections remain speculative, the analyst’s outlook reflects a growing sentiment among technical traders who believe the asset has entered a value zone following months of depressed performance.
Also Read | DOT Price Alert: Can Polkadot Bounce to $16 After 11% Dip?
DOT Price Prediction for 2025
According to DigitalCoinPrice, Polkadot may reach the $4.46 level by year-end, with the possibility of revisiting the previous all-time high of $55.00 in the long term, should market conditions improve.
DOT is expected to stabilize between $4.19 and $4.46 as part of its recovery trajectory. While such forecasts are speculative, they indicate confidence in Polkadot’s underlying technology and its role in multi-chain interoperability, a sector that continues to gain relevance.
Also Read | Polkadot Price Warning: Is $2 the Bottom Before a $4.71 Rally?
