Skip to content
Crypto News Focus logo CNF_CRYPTO_NEWS_FOCUS_LOGO 8

Crypto News Focus

your day to day crypto news site

Primary Menu
  • Home
  • News
    • Bitcoin News
    • Ripple XRP news
    • Ethereum News
    • Cardano News
    • Shiba Inu News
    • Pi Network News
    • More
  • Analysis
  • PR Desk
  • About Us
  • General Policy & Privacy
  • Guides
    • Bitcoin Guides
    • Pi Network Guide
    • Cardano Guide
  • Politics
  • Tech
  • Home
  • News
  • Polkadot Hits $8.58- Is Polkadot Ready to Break Past $10?
  • Analysis
  • News

Polkadot Hits $8.58- Is Polkadot Ready to Break Past $10?

vivian 25 November 2024
Polkadot on green
  • Polkadot (DOT) has surged by 122% in the past 30 days, breaking past key resistance levels and consolidating above $8, with key resistance points at $9.31 and $9.90.
  • While the cryptocurrency shows strong bullish momentum, the market may face short-term pullbacks if the RSI enters overbought territory, and the next crucial levels to watch are $8.58 for support and $10 for potential breakout.

Polkadot (DOT) has been on an impressive bull run, gaining 122% in just 30 days. After months of downturn, this cryptocurrency has broken key resistance levels and is now holding steady above $8, signaling a potential continued upward momentum. However, as it approaches key resistance zones, what’s next for DOT investors?

A Strong Comeback Above $8

Over the past month, Polkadot’s price has surged past critical resistance points, reaching $8.58. This price mark, once a formidable resistance level, has now transformed into a strong support zone. With bullish momentum in play, Polkadot is eyeing higher levels, but it faces challenges ahead, particularly the $9.31 and $9.90 resistance levels, which could dictate the next phase of its rally.

The $9 Breakout and Key Resistance Levels

For Polkadot to continue its rally, breaking through the $9.31 resistance is essential. A successful breakout here could set DOT on a path toward $10.50, an important psychological and historical resistance level. Such a move would not only increase Polkadot’s price but also solidify its position as a leading cryptocurrency in the market.

However, traders should remain cautious as the Relative Strength Index (RSI) sits at 67. While this indicates strong buying interest, it also suggests that the market is nearing overbought conditions. As the RSI approaches 70, the likelihood of a short-term pullback increases, which could lead to a temporary retracement in price.

Potential Pullbacks and Critical Support Zones

If the market sees a pullback, key support levels to watch for include $8.58, $7.98, and $7.40. These zones are crucial for maintaining the bullish outlook, as failing to hold support at these levels could trigger further price declines. The $7.98 and $7.40 levels, marked by Fibonacci retracements, are especially important for traders to monitor for signs of potential consolidation or reversal.

Can Polkadot Reclaim $10?

The critical question for Polkadot moving forward is whether it can reclaim the $10 mark. If the cryptocurrency breaks through the key resistance levels at $9.31 and $9.90, it could push past $10 and move toward $12.60. On the flip side, failure to hold support above $8.58 could lead to further bearish pressure, putting a halt to the current rally.

While Polkadot’s recent performance is impressive, the next few weeks are pivotal in determining whether this surge will lead to sustained growth or if consolidation and pullbacks are on the horizon. As the market weighs these factors, keeping an eye on the critical support and resistance levels will be key for investors and traders alike.

Continue Reading

Previous: LUNC Price Soars as Terra Luna Classic Community Rejects Controversial Proposal
Next: Why Stellar (XLM) Deserves More Attention in the Crypto Space

Related Stories

Pi NETWORK on black
  • Analysis

Pi Network Token Struggles Below $0.45 But Core Team Sees Signs of a Reversal

vivian 25 July 2025
Bitcoin BTC INTERCONNECTED
  • Analysis

Bitcoin Price Drops to $115K as Ethereum Surges Past $3,600

Jane Kariuki 25 July 2025
Solana on a purple buckground
  • News

Solana Price Drops Sharply Amid Market Liquidations and Legal Action

Cal Evans 25 July 2025

For general inquiries, please email us at Info@cryptonewsfocus.com

Crypto news focus is your day-to-day crypto news site. Get all the latest News and trends in the crypto, blockchain, and DeFi space. For more info and inquiries, reach out via email at info@cryptonewsfocus.com

You may have missed

Pi NETWORK on black
  • Analysis

Pi Network Token Struggles Below $0.45 But Core Team Sees Signs of a Reversal

vivian 25 July 2025
Bitcoin BTC INTERCONNECTED
  • Analysis

Bitcoin Price Drops to $115K as Ethereum Surges Past $3,600

Jane Kariuki 25 July 2025
Solana on a purple buckground
  • News

Solana Price Drops Sharply Amid Market Liquidations and Legal Action

Cal Evans 25 July 2025
Litecoin coins
  • Analysis

Is Litecoin Just Getting Started After Breaking $116?

Jane Kariuki 24 July 2025

Social Media

Crypto News Focus © All rights reserved | MoreNews by AF themes.
Go to mobile version
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.