Polkadot Chart Forming Bullish Flag Pattern, Analysts Predict DOT Will Pump After Reaching the $9.35 Mark

Altcoins Polkadot Price Prediction

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Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...

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November 25, 2024

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Polkadot has jumped by 5% in the past 24 hours, rising to $9.04 as the cryptocurrency market slips by 0.5% today.

DOT is now up by 56% in the past week and by 123% in the past month, with its chart forming a bullish flag pattern that suggests it could continue rallying this week.

Analysts are now predicting that DOT could pump heavily if it crosses the $9.35 level, a price it last reached back in April.

Given the trajectory of the wider crypto market, DOT is likely to reach this target very soon, with its solid fundamentals also making it a good long-term bet.

Polkadot Chart Forming Bullish Flag Pattern, Analysts Predict DOT Will Pump After Reaching the $9.35 Mark

DOT’s chart today is looking bullish because its resistance (red) and support (green) levels have formed a flag pattern.

The two levels are squeezing Polkadot’s price into an increasingly narrow range, one which the coin looks like it will break out of very soon.

The coin had a very strong weekend, with its RSI (purple) rising to an overbought 80 on Saturday, before correcting on Sunday.

But DOT is now ready to bounce back again, with its 30-period average (orange) climbing ever further beyond its 200-period (blue) in the past few hours.

And analysts are beginning to notice that the alt is moving into an increasingly bullish position, with the ‘CryptoRollerCoaster’ account on X stating today that a move to $9.35 could signal a big break out.

Looking at the bigger picture, Polkadot is in a strong position to benefit substantially from the new bull market.

A big reason for its rallying over the weekend (and today) is that FIFA recently announced a new mobile game, FIFA Rivals, that will run on the Polkadot network.

This is a massive coup for Polkadot, underlining its credentials as a dark horse to rival Solana and Ethereum as a major layer-one network.

The platform has been busy growing and upgrading itself over the past few months, having rolled out its Agile Coretime update in September, for instance.

Based on its improving fundamentals, and on growing market bullishness, the Polkadot price is likely to reach $9.35 in the next few weeks.

It could then end the year at around $15, before rising to $25 by H2 2025.

New Meme Tokens with Bullish Fundamentals

Some traders may find DOT moo much of a modest, steady riser for their tastes, in which case there are alternative to consider.

This includes new low-cap alts (such as Ergo, Casper and Harmony, for instance), and it also includes presale tokens, which can often rally big when they list on exchanges for the first time.

One presale coin showing lots of promise is Crypto All-Stars (STARS), a new Ethereum-based coin that has raised a very impressive $5.8 million in its ongoing sale.

Crypto All-Stars is interesting because it’s the first coin in the market to provide a ‘MemeVault’, enabling holders of any meme token to stake their funds.

It employs the ERC-1155 multi-token standard, meaning that its contract can tokenize any cryptocurrency, including coins that don’t run on the Ethereum blockchain.

This could result in massive adoption for the token, particularly given that users who stake external meme coins receive greater rewards in proportion to the STARS tokens they hold.

STARS’ sale will end in 25 days, but investors can still join it by going to the official Crypto All-Stars website.

1 STARS currently costs $0.0016125, which is its final presale price.

Of course, Crypto All-Stars’ popularity (with 18,000 followers on X) would suggest that it will rise well beyond this sale price once it lists.

Buy STARS Now