Polkadot and Fantom Set for Bullish Surge After Consolidation, Eyes on Crucial Resistance

• Polkadot could rise to $9.7 after holding $3.60 support, but a pullback near resistance may precede a move toward $20.
• Fantom faces a crucial $0.72259 resistance, with potential for a bullish breakout if it breaks this key level.
• Both DOT and FTM show consolidation, indicating possible upward movement as they approach key resistance levels.

Polkadot (DOT) is showing signs of a potential price breakout similar to Fantom (FTM), with both cryptocurrencies displaying notable patterns on their weekly charts. Polkadot’s price could surge to $9.7 after holding its $3.60 support level. 

However, a short pullback may follow before a possible move toward $20. Meanwhile, Fantom is currently facing key resistance but shows potential for upward movement if it successfully breaks this level.

Fantom’s Key Levels and Price Movements

At press time, Fantom (FTM) was trading at $0.6651, approaching a crucial resistance level at $0.72259. Historically, this price level has acted as a barrier to further upward movement. 

The chart shows that if Fantom breaks this resistance, it could indicate a strong bullish continuation. On the downside, key support sits at $0.5220, with lower levels around $0.1935 and $0.1639, marking areas where the price could retreat if the upward momentum weakens.

The chart highlights a pattern of consolidation between $0.5220 and $0.72259, suggesting that if the price doesn’t break through, it may revisit lower support levels. However, if the resistance is breached, Fantom could see increased buying pressure, potentially driving the price higher.

Polkadot Eyes Major Breakout After Consolidation

At the time of writing, Polkadot (DOT), was trading at $4.292, has also been consolidating but appears poised for a major breakout. Key support is holding at $3.60, and the chart suggests that Polkadot could rise toward the $9.677 resistance level, which has historically been a critical price point for the cryptocurrency. A successful break of this resistance could lead to a sharp price surge, with the next potential target set at $19.

However, analyst, Ali Martinez, indicates that before this move, Polkadot may experience a brief pullback around the $9.677 mark, as indicated by the wavy line on the chart. This pullback could be short-lived, allowing Polkadot to resume its upward momentum.

Market Sentiment and Potential Trends

Notably, the analysis of both Fantom and Polkadot shows potential for upward movement, especially if key resistance levels are breached. 

Fantom’s recent price movements show higher volatility, driven by short-term traders, while Polkadot’s more gradual climb suggests sustained accumulation. Monitoring market sentiment and technical patterns for signs of a breakout or consolidation is crucial at this point.