• Polkadot (DOT) price has increased by 1.3% in 24-hours, while the coin has gained 15.79% over the past week, signaling growing investor confidence.
• Technical analysis shows that DOT is in an accumulation stage, suggesting that it is primed for a price breakout.
• DOT is currently trading within a falling wedge pattern, a common technical signal indicating a breakout toward the $25 resistance

Polkadot (DOT) is picking up steam throughout the entire crypto market and is experiencing a surge in its price. DOT is currently trading within a falling wedge pattern, which often leads to a bullish reversal ahead. If a successful breakout occurs, then it will lead the rally toward the $25.

At the time of writing, DOT is trading at $4.24 with a 24-hour trading volume of $532.68 million and a market capitalization of $6.82 billion. The DOT price over the last 24 hours is up by 1.3%, and over the last week it is also up by 15.79%.

Source: CoinMarketCap

Also Read: Polkadot Price Forecast 2025: Can DOT Break $4.50 Soon and Hit $9.12 This Year?

DOT Accumulation Phase Sets Up $25 Rally

Moreover, the crypto analyst Alex Clay, highlighted that DOT is only just beginning to gather steam, identified some fascinating trends within Polkadot’s price action. The token is now located on the bottom side of its channel, something that can be followed through with a large breakout.

This important position, along with the development of a falling wedge pattern, is a bullish indication within technical trading. The falling wedge pattern usually indicates that a reversal would soon occur, especially if it is supported by advancing accumulation levels, which are seen through the Relative Strength Index (RSI).

Analysis reveals that DOT is in an accumulation stage, which implies that investors are increasingly interested even after a period of relatively subdued trading. Since the coin has accumulated for 1,155 days, this long sideways action can be an indication that DOT is about to experience a price breakout.

Source: X

From a price action standpoint, the coin has a lot of potential for growth. The first target for DOT is $10, which shows a 135% surge from its current value. The second target is $15, and then the third one is $25, which is much more aggressive, suggesting that DOT can experience a multi-fold increase in value if this bullish sentiment keeps gathering momentum.

DOT’s Derivative Market Signals Strong Rally Ahead

DOT’s derivative market action is encouraging, with its 24-hour volume advancing 7.81% to $713.54 million, and its open interest (OI) advancing 1.80% to $518.58 million. This rise in volume and open interest indicates increasing investor interest and optimism about the future price action of DOT.

Source: Coinglass

DOT’s OI-weighted funding rate is 0.0128%, which is indicative of long-term positioning in the market. Although this is a moderate number, it places the coin as an important participant in the current market scenario.

Source: Coinglass

Also Read: Polkadot Price Analysis: Bullish Setup Suggests $15 Target in Sight