Key Insights:

• Polkadot’s DOT price has bounced back 4% after demonstrating support at the $3.47 level.
• Analysts have identified a bullish reversal pattern, indicating potential for continued upward movement.

Market Update:

The DOT price rebounded by 4%, following a decrease of 3.67% to $3.464 where it found solid support based on CoinDesk’s technical research model. The increase occurred with substantial trading volume.

A bullish reversal formation has developed, characterized by a series of rising lows, suggesting further growth potential according to the analysis.

• Market Performance:
  • DOT showed vulnerability initially but found support before rising. A pattern of consecutive higher lows has emerged.
  • Activating a V-shaped recovery began shortly after 11:43 AM, with significant trading volume during the recovery period.
  • Price movement surpassed several resistance benchmarks, peaking at $3.559 around 12:09 PM.

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