Polkadot (DOT) to Continue Upward Rally as Critical Retest Proves Successful: Here Are the Next Price Targets
Polkadot (DOT), the multi-chain network founded by Ethereum co-founder Gavin Wood, appears ready to resume its upward price trajectory according to latest analysis. This week, crypto market analyst Rekt Capital identified a successful retest of a key support level that could propel Polkadot to further highs.
Pullback Opportunity
A few days ago, Rekt Capital noted that DOT had pulled back to retest previous resistance near $6.40, flagged in red on accompanying charts. “Retest is now in progress,” the analyst tweeted. Such temporary retracements allow assets to establish supports before continuing upward moves.
Test Passed
Fortunately for Polkadot bulls, results are positive so far. “Looks like the Polkadot retest has been successful thus far,” Rekt Capital tweeted today with an update. Polkadot has rebounded from its test in the $6.40 zone, now trading around $7.30 at time of writing.
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Show more +What’s Next
With Polkadot appearing to confirm $6.40 as support, its uptrend looks likely to resume. While Rekt Capital did not specify exact price targets, technical analysis suggests likely resistance near $7.69 initially, before DOT may challenge $8.70 – its highest levels since last summer.
Still, Polkadot has shown the capacity for rapid price spikes in the past. Should bullish momentum accelerate, DOT could continue trending higher to revisit its all-time high around $55 in coming months. For now, Rekt Capital and traders seem confident Polkadot is ready to leave recent lows behind and march upwards once more. Its successful retest has the rally back in full swing.
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