Polkadot

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/polkadot-price-analysis-dot-price-prepares-to-bounce-and-break-the-triangle-will-it-reach-6-30/">Polkadot Price Analysis: DOT Price Prepares To Bounce And Break The Triangle, Will It Reach $6.30?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Following the recent correction to $4.29, the DOT coin price finds footing at the base of the descending triangle. Making $4.29 a multi-contact support level, buyers are extremely confident of a bounce back within the triangle.&nbsp;&nbsp; 
With a rounding bottom-like reversal, <a href="https://coinpedia.org/price-prediction/polkadot-price-prediction/" rel="noopener noreferrer nofollow">DOT price</a> starts a positive cycle within the triangle pattern and may soon challenge the 50-day EMA.&nbsp; 
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The altcoins are teasing a bounce back with the recovery last night to give a bullish end to the consolidation phase. DOT price action displays a similar movement with the 2.45% jump overnight.&nbsp; 
Currently, the DOT price trades at $4.61 with a Doji formation. However, an increase in buying pressure can draw out a green candle by the end of the day.&nbsp; 
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 <img decoding="async" src="https://lh6.googleusercontent.com/ocCAM8flmRa0x9fxV2jFJRM9KJRY1_VD-y9ei2Emp_vNHpkh9PfGtTAG7EJfuIS8dKrkUNs-uAOaa_RzCNcC9DYTN6ZAJLSFNOH3pRUbrw05b8-oNJTxnxNhV5bELILxB9v6b0DfDeF7IKjWdyeBO1w" alt=""> 
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In the 1-week chart, Polkadot price prepares a second-morning star pattern at the crucial demand band at $4.29. Marking a third upcycle within the triangle, a bullish breakout is possible. 
Supporting the bullish thesis, the weekly RSI line displays a long-coming bullish divergence at the $4.29 base.&nbsp;&nbsp; 
<h2 id="will-dot-price-reach-6-30" data-name="will-dot-price-reach-6-30" class="wp-block-heading">Will DOT Price Reach $6.30?</h2> 
With bullish reversal signals rising in multiple time frames, the DOT price may soon skyrocket to the resistance trendline. However, the Polkadot price must exceed the $5 mark for the trendline challenge. 
With a potential breakout, the bullish rally will give Polkadot a chance to moonshot. The unleashed momentum can fuel the breakout rally to reach $6.30.&nbsp; 
On the flip side, reversal within the triangle will retest the bullish dominance at the $4.29 support.

Polkadot Price Analysis: DOT Price Prepares To Bounce And Break The Triangle, Will It Reach $6.30?

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