Polkadot ($DOT ) is making a solid comeback after a heavy test of the $1.00 support area, but the real question is: do the bulls actually have enough gas left to keep this bounce alive?
Looking at the 4-hour chart, #dot has rallied sharp out of that support zone and is currently hovering around $1.20. The immediate hurdle is right ahead between $1.22 and $1.25. This is a heavy resistance pocket where sellers love to step back in, so things could get tricky here.
Personally, I’m keeping a close eye out for a rejection around this zone. If the bears take over, we’ll likely see a pullback toward the $1.10 mark to see if it holds as new support. If that $1.10 level gives out, then we’re right back to looking at the crucial $1.00–$1.04 floor to save the day.#SolanaPlansToCutBlockTimesTo200ms #SolanaPlansToCutBlockTimesTo200ms
Looking at the 4-hour chart, #dot has rallied sharp out of that support zone and is currently hovering around $1.20. The immediate hurdle is right ahead between $1.22 and $1.25. This is a heavy resistance pocket where sellers love to step back in, so things could get tricky here.
Personally, I’m keeping a close eye out for a rejection around this zone. If the bears take over, we’ll likely see a pullback toward the $1.10 mark to see if it holds as new support. If that $1.10 level gives out, then we’re right back to looking at the crucial $1.00–$1.04 floor to save the day.#SolanaPlansToCutBlockTimesTo200ms #SolanaPlansToCutBlockTimesTo200ms