Crypto NewsPolkadot (DOT)

Crypto Analyst Justin Bennett Says Polkadot (DOT) Breakout Is Imminent – ​​Here Are His Targets

Popular crypto strategist and trader Justin Bennett says a major breakthrough for interoperabilityBlockchain Polka dot (DOT) emerging.
In a new strategy session, Bennett says that Polkadot’s price action is snaking as it trades within a bullish continuation pattern.

“The fact that this is a falling wedge which is an inherently bullish pattern and we also have the market in a macro uptrend I have reason to believe this will break out to the upside rather than down. “

According to Bennett, he sees Polkadot ending its short-term downtrend and breaking out of the falling wedge by the second week of February.

Looking at potential targets for Polkadot, the crypto analyst believes that DOT can potentially trigger a 78% surge once it crosses the diagonal resistance of the wedge eliminated.

“Will the market break higher? Personally, I think there’s a very good chance, and if so, the area I’ll be targeting is up here. The first would be $32, $38, and $45.”

At the time of writing, Polkadot is trading at $25.22.

While Bennett is long-term bullish on DOT, he sees the crypto-asset set to correct significantly in the coming days before it recovers and meets its targets.

“Don’t be surprised if we get something like this where DOT breaks out of its terminal pattern to the upside and retests support [$20] maybe, breaks out from here and then starts moving higher towards $32, $38 and $45 and eventually we get a move up here into this resistance area later this year [$65].”

Check the price action


Source: Crypto News Deutsch

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