From its earlier bottom, Polkadot jumped 30% and is trying to reach a 21.45% increase at $6.00.
After an initial drop, DOT broke free of the channel and is currently forming a bullish flag signaling the market’s upward trend.
Traders invested $288.52M in crypto, an increase of 30.35% that could encourage buyers and extend the rally.
The price of DOT has risen recently after a breakout on its technical chart, suggesting that it could grow further. Following the 30% rise the asset has recorded since going up, it is now trading for $4.95 and has risen another 3.70% today. The growing optimism in the wider market combined with a 30.35% increase in trading volume, reaching $288.52 million, indicates that a lot of investors are interested in these digital assets.
Price Structure and Trend Break
The current price pattern observed on the DOT/USDT pair indicates a clear breakout from a descending channel that had constrained price action since late 2023. Once support formed around $4.20, DOT steadily grew and broke through the upper edge of the channel. Buyers were clearly in charge during this sudden rise, showing that the market improved after months of slow trading.
Source:(X)
A bullish flag then formed which often signals the continuation of a strong upward trend. As of May 22, 2025, DOT appears to be pushing above the upper limit of this flag, implying the continuation of the prior bullish move. The projected target from this breakout sits around the $6.00 mark, aligning with a potential 21.45% upside from current levels, based on historical flagpole measurements.
Key Market Levels and Indicators
Polkadot is currently supported at $4.74, a level that has previously acted as resistance and now appears to have flipped into support. On the upside, the next psychological resistance lies at $6.00, a level that hasn’t been revisited since early 2024. The circulating supply remains fixed at 1.57 billion DOT, with a market capitalization of $7.83 billion.
Outlook and Implications
Should momentum sustain above the $5.00 level, the probability of reaching $6.00 in the short term increases significantly. But if the price cannot hold above the current support, it might fall back toward where it broke out near $4.40. The market is awaiting further evidence of strength from prices above $5.00 to strengthen the case for bulls.
Based on the data, the potential for upside is possible IF volume and the wider sentiment are on the same side, since near-term gains depend closely on market performance and the breakout’s strength.
The post Polkadot Targets $6 After 30% Rally and Breakout From Descending Channel appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
