Polkadot’s DOT Rises 4% After Finding Support at $3.47
DOT rebounded by 4% after a 3.67% drop to $3.464, finding strong support according to CoinDesk Research's technical analysis. The increase was backed by strong trading volume.
Key points from the analysis:
- DOT corrected 3.67% from $3.596 to $3.464 before finding support.
- Volume surpassed 2.5M units at the $3.47 support level, significantly higher than the 24-hour average.
- A bullish reversal pattern formed with consecutive higher lows since the bottom.
- A V-shaped recovery pattern emerged starting at 11:43, with volume over 34,000 units at 11:45.
- Price peaked at $3.559 at 12:09 after breaking through multiple resistance levels.
- Further upward momentum is possible if the $3.57 resistance is cleared.
At the time of reporting, DOT was down 0.5% at around $3.57, while the broader CoinDesk 20 index was up 1.2%.