$DOT Update 🚨
$DOT remains a high-risk recovery play. The broader structure is still weak, so I’d want to see a clear reclaim of nearby resistance before calling a trend reversal.
⚠️ One major fundamental headline: Grayscale recently withdrew its proposed Polkadot ETF registration, which adds short-term pressure to sentiment.
My view: Don’t chase pumps. Wait for confirmation + volume, and keep stops tight. The long-term JAM narrative remains interesting, but price needs to prove strength first. $DOT
$DOT remains a high-risk recovery play. The broader structure is still weak, so I’d want to see a clear reclaim of nearby resistance before calling a trend reversal.
⚠️ One major fundamental headline: Grayscale recently withdrew its proposed Polkadot ETF registration, which adds short-term pressure to sentiment.
My view: Don’t chase pumps. Wait for confirmation + volume, and keep stops tight. The long-term JAM narrative remains interesting, but price needs to prove strength first. $DOT