DOT Price (Polkadot) Reaches Key Juncture, Is This Bulls Trap or Correction?

DOT Price (Polkadot) Reaches Key Juncture, Is This Bulls Trap or Correction?

Polkadot (DOT) is correcting gains from the $7.5 resistance against the US Dollar. The price could start another increase if it stays above the $6.75 support.


  • DOT gained pace and tested the $7.5 resistance level against the US Dollar.

  • The price is trading above the $7.00 zone and the 100 simple moving average (4 hours).

  • There is a short-term expanding triangle forming with resistance at $7.50 on the 4-hour chart of the DOT/USD pair (data source from Kraken).

  • The pair could continue to decline if it fails to stay above the $6.75 support.

  • Polkadot Price Holds Support


    After forming a base above the $6.00 level, DOT price started a decent increase. It broke many hurdles near $6.75 and even spiked above $7.25. A high was formed at $7.46 and the price is now correcting gains, like Ethereum and Bitcoin.


    There was a move ..

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