Polkadot (DOT) is showing a familiar price structure that historically preceded sharp price increases. This article discusses current support levels and price forecasts.
Historical Price Structure of Polkadot
Polkadot is exhibiting a familiar bounce from its established accumulation range of $3.5–$4.5, which has previously triggered rallies toward the $11.7 resistance level. Analyst CryptonautX noted that DOT consistently rallies after consolidating in this range. The current market setup appears to be following a similar pattern.
Breakout Levels to Watch in August
With rising bullish sentiment across the crypto market, DOT may be well-positioned for continued gains. Should the price break through the $11.7 resistance with strong volume, the next potential targets could be $15 or even $20. The $11.7 level has historically acted as a significant rejection point for DOT.
Strong Fundamentals and Community Support
Polkadot continues to maintain active development and a dedicated community. Despite previous market corrections, the project has preserved its technical structure and investor interest, which supports its long-term price foundation. CryptonautX emphasized that the current structure is almost identical to past setups that resulted in significant rallies.
The technical and historical indicators for Polkadot suggest a potential sustained move toward higher resistance levels in the coming weeks. As market conditions improve, interest in DOT may increase.
