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Will DOT’s 5% hike mean more near-term gains for the altcoin

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Polkadot (DOT) bounced off the $3.6 support level for the second time in a row within a week with buyers poised for more gains.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinionPolkadot

The first hurdle for bulls lies around the $4-resistance level. A look south on the 12H timeframe showed buyers mounting a month-long defense at this level before it caved to selling pressure. This suggested that some buy orders could still exist at the level to provide needed momentum for buyers.

 

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