• Polkadot’s breakout and technical indicators pointed to a potential rally towards $24
• Rising development activity and social dominance highlighted growing market interest in the altcoin

Polkadot [DOT ($2.32)] has grabbed market attention with its recent price action, following a notable breakout from a descending channel pattern. With a price of $7.72 following gains of 6.54% at press time, the altcoin seemed to be demonstrating some promising momentum on the charts. 

Needless to say, the ongoing activity and metrics surrounding Polkadot have sparked curiosity about its potential direction in early 2025.

DOT breaks key resistance with a strong setup

Polkadot’s descending channel breakout has set the stage for a potential rally, with the token reclaiming its bullish structure and forming a higher high. 

The immediate resistance at $11.77 remains a key level to watch, while a successful breach could pave the way towards the $24-mark. These levels alluded to an over 100% potential upside from its press time price, underscoring DOT’s promising trajectory. 

Additionally, the consolidation following the breakout has been strong, providing traders with confidence in its long-term strength. Simply put, Polkadot’s technical outl...