Polkadot's DOT Surges Over 4% Amid Strong Recovery

Polkadot’s DOT Surges Over 4% Amid Strong Recovery

Polkadot’s DOT demonstrated remarkable resilience with a significant recovery rally, increasing over 4% to reach $4.12. This upward trend followed the defense of crucial support levels priced between $3.84 and $3.86, as indicated by a technical analysis model from CoinDesk Research.

Key Highlights:

The DOT token managed to breach the resistance level at $3.92 with notable trading volumes exceeding 7 million, suggesting possible institutional interest and higher momentum towards the Fibonacci extension targets of $4.15-$4.20.

Polkadot Polkadot’s DOT advances over 4% amid robust recovery.

What to Watch:

DOT maintains a strong support structure around $3.84-$3.86.
Anticipated upward movement towards $4.15-$4.20, provided the market momentum sustains.

In closing, DOT’s recent price movements reflect a broader trend within the cryptocurrency market, which has also seen overall gains, with the Coindesk 20 index recently noting an increase of 1%.