Polkadot (DOT) is currently forming a round bottom pattern with a key resistance level at $4.40. On the daily timeframe, DOT has been attempting to break through this resistance but has not yet succeeded.
If this breakout attempt fails, DOT could retrace back to the $4.20 support zone for another retest. However, the round bottom structure suggests a gradual accumulation phase. Combined with the broader market’s anticipation of an altcoin season and the upcoming approval processes for DOT-related ETFs, this setup positions DOT as a compelling investment candidate.
From a technical perspective, should the breakout materialize, a rally toward the $6.50 target zone appears to be a realistic and achievable scenario.
If this breakout attempt fails, DOT could retrace back to the $4.20 support zone for another retest. However, the round bottom structure suggests a gradual accumulation phase. Combined with the broader market’s anticipation of an altcoin season and the upcoming approval processes for DOT-related ETFs, this setup positions DOT as a compelling investment candidate.
From a technical perspective, should the breakout materialize, a rally toward the $6.50 target zone appears to be a realistic and achievable scenario.
Nota
Update 1DOT has rejected resistance and pulled back to retest the support area. This means we will need to wait longer for confirmation. That is perfectly fine — I will only reconsider the outlook if DOT falls below $4.00. In crypto trading, patience remains the golden key.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.