Polkadot

Coin

<ul class="news-points">
 <li>Polkadot rebounds to $7.60 before sliding to $7.40, marking a short-term bullish trend.</li>
 <li>DOT trading volume surges by 62.41%, indicating heightened market activity.</li>
 <li>RSI at 53 signals neutrality; MACD shows weak but positive momentum.</li>
</ul>
Polkadot (DOT) has been in a bullish trend in the last 24 hours after establishing support at the intra-day low of $7.37. Subsequently, bullish momentum drove the price to a high of $7.60, where it met resistance and pulled back. However, during the rally, this price trend fluctuated between this intra-day high and a higher low of around $7.50, forming a short-term ascending channel.&nbsp;
However, as of press time, <a href="https://coinedition.com/industry-expert-who-called-polkadots-dot-jump-from-5-to-40-last-cycle-identifies-altcoin-with-similar-potential-in-2024/" rel="noopener noreferrer nofollow">DOT’s </a>bullish momentum has subsided as the price broke below this channel, exchanging hands at $7.40, a 0.70% surge from the support level. DOT’s bullish momentum was accompanied by increases of 0.05% and 29.96% in market capitalization and 24-hour trading volume, respectively, to $10,63 billion and $185.97 million.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/G_zPI0jXu80mx3Ih9pOf85TDXUt0OabOKfZgtXcV4SSXQUtJm6nh2y6GF73bt-guRBIhmSS9ZCsEpikcO2hE2_DXNv42yAEhZfp4rBNjwcJBP-2H3mo-HFIzToQMrOv6aV5wwwUkwVQedPbc1ga1R34" alt="">
</figure>
DOT/USD 24-hour price chart (source: <a href="https://coinmarketcap.com/currencies/polkadot-new/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>)
In terms of DOT derivatives data, the bullish momentum propelled the trading volume up by 62.41%, reaching $226.70M. This surge suggests a substan…
The post <a href="https://coinedition.com/polkadot-price-prediction-rising-wedge-pattern-hints-at-potential-downturn/" rel="noopener noreferrer nofollow">Polkadot Price Prediction: Rising Wedge Pattern Hints at Potential Downturn</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Polkadot Price Prediction: Rising Wedge Pattern Hints at Potential Downturn

Coin Edition

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