DOT of Polkadot bounces 4% after generating a triple bottom at $ 3.47 support level

The DOT revised, earning 4%, after falling 3.67% to $ 3.464, where it found strong support, according to the technical review model of Coindesk Research. Moving higher is in strong volume, the model shows.

A bullish reversal pattern is formed with subsequent higher lows from the bottom, suggesting an additional potential reversal, according to the model.

In recent trade, the DOT is 0.5% less than 24 hours around $ 3.57. The broader market gauge, CoinDesk 20, is 1.2% higher at the time of publication.

Technical assessment:

• The DOT experienced a 3.67% correction from $ 3.596 to $ 3.464 before finding strong support.
• Volume exceeds the 2.5m unit at the support level of $ 3.47, which is significantly more than a 24 -hour average.
• A reversal pattern of bullish formed with consecutive higher lows from the bottom.
• The V-shaped recovery pattern emerged starting at 11:43, with an increase in more than 34,000 units during the 11:45 hours.
• The price destroys many levels of resistance, reaching a peak of $ 3.559 at 12:09.
• The potential continuation of the upward momentum if the $ 3.57 resistance can be cleared.

Denuch: Parts of this article were formed with the help of AI tools and reviewed by the CoinDesk editorial team for accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.