The altcoin Polkadot (DOT) has seen a decrease in price recently but may be due for a recovery according to analysts. The cryptocurrency has established support following a breakdown of a descending triangle on the weekly chart. If it can maintain above this support level, it has the potential to surge towards $24. Polkadot has been trading within support levels, now possible bounce locations, and has stabilized at $5.70-$5.80. Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest a possible upward movement. However, if DOT falls below the $5.70 level, it may result in liquidation triggers and a further decline in price. It is crucial to monitor whether Polkadot can defend the $5.70 support and pave the way for a market rebound.



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