Related Articles
Polkadot’s slumber might be ending. A bullish tremor is building just beneath the $2.85 mark, hinting at a potential trend reversal. Can DOT awaken and shatter the resistance ceiling above? The next few trading sessions will be a make-or-break moment: freedom or further stagnation? The market watches, breath held.
DOT’s Downtrend Shows Signs Of Exhaustion As Buyers Eye A Short-Term Recovery
DOT’s descent in the 4-hour chart may be singing its swan song. According to Elliott Waves Academy, the relentless series of dips within the recent impulsive wave hints at exhaustion. Is this the end of the line for the bears? A potential rally could be just around the corner.
Related Reading: Polkadot Recovery Stalls As Bearish Pressure Returns With $3.5 In Sight
Elliott Waves Academy spots a fascinating formation: a diagonal pattern meticulously sketching out wave (1)/(A). This isn’t just another squiggle on the chart – it’s a potential siren song, signaling the grand finale of the current trend and hinting at a dramatic market reversal. Keep a close watch; this diagonal could be the opening act of something big.
“The bulls have officially broken free! The analyst confirms a surge past the diagonal pattern’s upper resistance, blasting the gates open for a rally. Prepare for liftoff – targets are set between $3.3423 and $3.36538.”
However, the bulls need to defend $2.2848 – the fate of the immediate rebound hangs in the balance. Elliott Waves Academy cautions that a breach below this critical threshold unleashes the bears, triggering a potentially devastating wave of selling.
Polkadot Remains Trapped Beneath Major HTF Resistance Levels
Polkadot’s price chart is stuck in neutral, according to Crypto_Jobs on X. Imagine Polkadot trapped in a financial phone booth, unable to break free. Two stubborn ceilings, $3.200 and $3.780, are blocking its escape. Crypto_Jobs advises playing it cool with bullish bets until Polkadot smashes through these resistance roadblocks. Think cautious optimism, not reckless abandon, until then.
Crypto_Jobs deciphers the market’s cryptic message: Polkadot’s stuck in neutral. Imagine a tug-of-war where neither side can gain ground. That’s DOT right now, bobbing between $2.500 and $2.700. This sideways shuffle hints at an impending breakout. Keep your eyes peeled the chart whispers a secret pattern, poised to unleash the next major price surge.
“Whispers are swirling in the crypto sphere: could an inverse head and shoulders be brewing? Keep a close watch around $2,700-$3,000. This price zone isn’t just a number; it’s a neckline. A decisive breach above it could unleash the bulls, fueling a potential 5-10% price stampede.”
Featured image from Medium, chart from Tradingview.com
Thanks for reading Polkadot Break Above $285 Ahead? Reversal Setup Forms Beneath Heavy Resistance
