Polkadot (DOT) is seeing a significant increase, rising nearly 15%. The bullish sentiment is gaining traction, with analysts predicting a surge toward the $10 mark.
DOT is showing strong bullish signals, with support near the $6.65 level against the US dollar.
The price is currently trading comfortably above the $8.00 zone and the 100 simple moving average (4 hours), indicating a positive trend.
On the 4-hour chart of the DOT/USD pair (data source: Kraken), a pivotal moment occurred with the breach of a significant bearish trend line, which had resistance in the vicinity of $7.80.
While the surge is encouraging, there may be some challenges ahead. Bears may try to defend the $8.88 resistance zone, posing a critical juncture in the rally.