Polkadot's Falling Wedge Signals Potential Breakout Towards $1.50

Polkadot (DOT) is showing signs of potential recovery, as its falling-wedge pattern develops. Buyers are defending support levels around $0.70-$0.75, while rising network activity could improve sentiment.

Rising network activity on Polkadot has seen an impressive increase of 17,200% within one day, with daily transactions increasing from six to 1,456. However, the very low numbers at the start make these percentages look more impressive.

The DOT price is currently trading at $0.7522 with a 24-hour trading volume of $60.9 million and a market capitalization of $1.27 billion. According to Crypto With Gopal, an upward breakout past the top trendline would support the positive reversal formation and take the DOT price towards $1.20 or even as high as $1.50, depending on sustained adoption and stronger buying pressure.