The price of Polkadot (DOT) experienced a sharp reversal, forming a V-bottom pattern at the key price zone of $4.80. After a significant drop, DOT saw a steady recovery and a sudden increase back to its starting high of $5.147, suggesting a strong bullish response. Traders saw the drop as an attractive entry point, and if the momentum continues, DOT could see further gains. However, it is important to monitor if DOT can sustain above $5.15, as a failure to do so could lead to a double top scenario and a potential decrease in price. The impact of DOT's reversal on the broader market is uncertain, as the crypto market often reacts individually to news and developments. Additionally, the recent negative netflow of DOT spot inflow/outflow suggests a shift in market dynamics and a potential decrease in price if the trend persists.



Other News from Today