Will Polkadot See Bullish Breakout Above $4.85 Despite Current Lows?

Polkadot (DOT) has had a good week, trading in the green and reaching beyond $4.33. The coin was trading within a range and is now approaching a key resistance level near $4.85.

This comes as optimism increases across the cryptocurrency market following rising odds of a spot crypto ETF approval in 2025.

Polkadot Moves Within a Clear Range as Bulls Watch $4.85 Level

Market analyst AltCryptoTalk states that DOT maintains steady trading between $4 and $10. The current market charts display the important breakout point at $4.85 with a highlighted red color.

The market signal for a bearish trend to shift toward bullish would appear when prices surpass $4.85.

The current market value of DOT stands at $3.97, still below the key breakout level of $4.85. The Polkadot has not reached $4.85 yet, but technical analyzes point toward developing bullish market sentiment.

Strong trading volumes combined with price breaks above $4.85 would signal the start of an upward trend shift. Support exists around $4.0,0, while its resistance point stands at $10.00 on its price chart.

Falling Wedge Breakout Hints at a Possible Trend Reversal

The falling wedge pattern developed between late January and mid-April 2025 eventually broke upward during mid-April.

Market participants view this pattern as bullish reversal indicator when accompanied by successful price breakouts.

DOT rose above $4.00 after breaking out before it entered a consolidation stage. That said, the coin broke support and was trading slightly below at $3.97 Technical indicators show that DOT is holding above $4.00 with a potential target of $6 if the current bullish momentum holds.

The Money Flow Index (MFI) measures 73.05, indicating that momentary buying momentum is present in the market.

The Relative Strength Index (RSI) is above the 50 level, indicating a moderate bullish move, pointing to a potential surge if momentum holds. Meanwhile, the CVD data indicates emerging buying pressure as momentum continues to shift.

ETF Optimism Has Contributed to General Market Optimism

Spot crypto ETF approval odds that are increasing in the United States have generated positive market sentiment across the board. Industry trackers show approval odds have reached over 75%, as their data indicates.

Many investors view the altcoin DOT as one of several good candidates to receive increased institutional interest because of growing market support.

Consolidated benefits from ETFs will reach DOT and other main cryptocurrencies, including LTC, SOL, XRP, DOGE, ADA, HBAR, and AVAX, by opening new entry points to wholesale investors.

Experts in the market predict investors will start showing their position based on these projections within the upcoming weeks.

The prospect of ETF approval leads market analysts to believe that DOT has a chance to rise to $4.85, even though it has not yet achieved confirmation of this trend.

The price has better potential for upward movement when it stays above its breakout points and attracts the projected rise in trading volume.

Polkadot Marketing Push Shows Growth in Reach and Engagement

In April, Polkadot spent  marketing budget of 400,000 DOT. The April marketing expenditure doubled the amount spent in March, with its established value.

The planned reduction of May budget expenditures by 50 % did not interrupt the growing sentiment or increased visibility.

Data from the network engagement shows sentiment levels went from -1.4 in July 2024 to +3.1 during recent weeks.

The popularity of Polkadot surged through increased mentions of over 430% and engagements by 117%, and smart engagements reaching 190%.

The Kaito campaign also received its initial launch in mid-February because it distributes 100,000 DOT each month throughout the next six months.

The Kaito campaign sustains ongoing visibility through its system for recognizing ecosystem support and its initiative to share educational information.

The post Will Polkadot See Bullish Breakout Above $4.85 Despite Current Lows? appeared first on The Coin Republic.