- Polkadot is forming a rounded bottom pattern signaling a possible market shift and long-term price growth.
- Analyst projects key levels at $9.86, $12.07, and $14.18 for a potential bullish continuation.
- Market confidence grows as Polkadot reclaims support and builds momentum toward breaking key resistance levels.
Polkadot has begun showing signs of a potential recovery as it reclaims a significant support zone while forming a bullish reversal. Analyst Rose Premium’s detailed analysis highlights three key targets, indicating that momentum is building and a breakout could be imminent.
Key Support Zone Offers Foundation for Recovery
Polkadot recently reclaimed a critical support area that previously acted as resistance during the prolonged downtrend. This recovery signals growing buyer interest and sets a foundation for potential price increases in the coming weeks.
The weekly chart reveals the formation of a rounded bottom pattern that often indicates a shift in market direction. This technical setup suggests Polkadot could be on the verge of a long-term upward trend if buying pressure remains consistent.
Momentum is strengthening around this zone, which aligns with analyst projections of further upside movement. These early indicators suggest Polkadot’s recovery could gain traction soon.
Bullish Targets Highlight Recovery Potential
Rose Premium has identified three price levels to watch as Polkadot moves upward. The first target of $9.86 represents a key milestone to confirm the bullish trend. Breaking this level would suggest strong market confidence and set the stage for higher moves.
The second target, $12.07, serves as an intermediate resistance zone that will test the strength of the recovery. Reaching this level would reinforce the momentum Polkadot has begun building.
The third and final target, $14.18, marks a significant milestone in this recovery phase. If achieved, it would indicate a strong upward trend and possibly renew optimism among investors.
Market Sentiment Highlights Mixed Opinions
The reaction from the community remains divided as some investors express doubts about Polkadot’s recovery, pointing to its underperformance in 2024. Others remain hopeful about its potential, especially as new developments like JAM may increase its market appeal.
While optimism grows with technical signals pointing toward recovery, the real test will be Polkadot’s ability to surpass these resistance levels. Can Polkadot’s price sustain its recovery and reach the projected targets?
By building momentum and forming a bullish pattern, Polkadot shows clear potential, but broader market dynamics remain a key factor.
