Polkadot token DOT has indeed been hot on the cryptocurrency market throughout the week, appreciating over 21%. Despite the gains bringing further enthusiasm among the investors, the token pressed on higher and continues to trade at $4.65 with a market capitalization of more than $6.6 billion.
Now ranking 17th in the largest cryptocurrencies, investors and DOT aficionados cannot stop wondering if it can sustain its momentum.
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Something is literally now hyping in the air, particularly after the analysis of the popular crypto analyst known as “Zayk Charts.” The analyst observed a falling wedge pattern on the 2-day chart for DOT/USDT, and it could truly be a game-changer.
$DOT Falling Wedge Formation in 2D Timeframe?
Incase of Breakout,Next Target wil be $10?#DOT #DOTUSDT #Polkadot #Crypto pic.twitter.com/xgqyjAN4ul
— ZAYK Charts (@ZAYKCharts) August 11, 2024
This is usually a bullish sign and gets more than 70% ripeness for triggering a trend reversal of the negative variety. If DOT breaks out of this wedge, Zayk Charts predicts it could shoot straight up and target a price as high as $10.
