Polkadot (DOT) is showing signs of a potential bullish trend start after breaking key resistance levels. Current price movements and trading volume confirm buyer interest.
Market Structure Shift
Polkadot (DOT) has successfully flipped a long-standing descending trendline, potentially signaling that sellers are losing control of the market. Previously, DOT had remained trapped below this trendline for an extended period.
Support and Trading Volume
The trading price is currently above the 9-day exponential moving average (EMA) at $4.17. Trading volume during the breakout was notably strong, confirming active participation from buyers.
Key Levels to Watch
As long as DOT remains above $4.00, the bullish momentum remains intact. The area between $4.50 and $5.00 serves as the next target range. Traders will be watching for a daily close above the EMA to confirm momentum strength.
Current movements of Polkadot (DOT) indicate a potential recovery of the bullish trend if support above key levels is respected.
