$DOT pushed into $1.21 yesterday, but today the market has taken some of that move back.
DOT opened around $1.20 and traded as high as $1.217 before slipping toward $1.16. That is roughly a 3% pullback after yesterday’s 6%+ jump.
The interesting part is that the rally has real momentum behind it. DOT moved from below $0.95 on September 15 to above $1.20 in less than a week.
A big narrative behind the move is dotUSD, Polkadot’s proposed native stablecoin. The governance vote received roughly 97.5% support, adding another reason for traders to revisit DOT.
Now the chart needs to digest the run.
$1.20-$1.22 is the resistance zone. If DOT gets back above that area and holds, the recent breakout remains intact. If sellers keep pushing it lower, I’d be watching the $1.13-$1.15 region.
BTC is still around $85K-$86K, so DOT is operating in a supportive broader market.
After a move this fast, consolidation would probably tell us more than another sudden green candle.
Not financial advice. Do your own research and manage your risk. $DOT
DOT opened around $1.20 and traded as high as $1.217 before slipping toward $1.16. That is roughly a 3% pullback after yesterday’s 6%+ jump.
The interesting part is that the rally has real momentum behind it. DOT moved from below $0.95 on September 15 to above $1.20 in less than a week.
A big narrative behind the move is dotUSD, Polkadot’s proposed native stablecoin. The governance vote received roughly 97.5% support, adding another reason for traders to revisit DOT.
Now the chart needs to digest the run.
$1.20-$1.22 is the resistance zone. If DOT gets back above that area and holds, the recent breakout remains intact. If sellers keep pushing it lower, I’d be watching the $1.13-$1.15 region.
BTC is still around $85K-$86K, so DOT is operating in a supportive broader market.
After a move this fast, consolidation would probably tell us more than another sudden green candle.
Not financial advice. Do your own research and manage your risk. $DOT