trading robot

Polkadot (DOT) Forms a Bottom, Gathering Momentum for 25% Surge

  • DOT seems to leave its local bottom around $24.85 as recovery emerges.
  • Market players can expect Polkadot to extend its ascent and register a 25% rally, retesting $36.84.
  • Breaching beneath the swing low at $24.84 will cancel the bullish narrative.

Polkadot price formed a swing high following the latest market tumble. Moreover, the altcoin has confirmed an upcoming upward journey. As the global markets recover, Polkadot might print a lucrative outlook soon.

DOT Price Prepares Higher Highs

Polkadot’s price formed a swing low near $24.84 after the 4 December market crash. Within 27 hours, DOT displayed a higher low, confirming increased buying momentum. Furthermore, the alternative coin printed a higher high during the 7 December sessions, suggesting the upward journey has started.

If this bullish strength continues in the upcoming sessions, market participants may expect DOT to register a 12% rally from its $29.52 – $35.05 range. Though this move will encounter resistance, Polkadot might extend its upswings towards $36.84, collect the liquidity beyond the level to fuel further surges. That would translate to a 25% surge, forming the base for a more advanced retrieval where DOT may target a $55.09 ATH retest.

On the other side, Polkadot’s failure to keep in upsurge intact might see the alternative coin heading lower for a lower low beneath the latest swing point near $28.02. Such a development is conducive for downswings. Thus market players need to be cautious.

If the crypto witnesses increasing selling pressure, Polkadot may revisit the support level at $24.84. Breaching this price barrier will print a lower low, canceling bullishness for DOT price.

For now, Polkadot’s price seems to have the steam for a 25% advance. That comes as the altcoin printed a bottom, triggering upward actions. The crypto seems to have what it takes to touch $36.84.

However, broad market support might be necessary for DOT to keep away vital levels for upward move support. Meanwhile, BTC finds the $50,000 level challenging to crack. A move past this psychological level can mean bullishness across the crypto space. That way, DOT will receive more support to hit its optimistic aim.

Stay around for upcoming updates in the crypto industry.

Previous Article
Next Article

Leave a Reply

Your email address will not be published. Required fields are marked *