Polkadot's DOT Rises 6% as Bullish Momentum Breaks Key Resistance
Polkadot's DOT Rises 6% as Bullish Momentum Breaks Key Resistance | Breaking Crypto News & Blockchain Updates
Polkadot's DOT Rises 6% as Bullish Momentum Breaks Key Resistance — Polkadot's DOT surged 6% higher amid a rally in crypto markets, with strong volume supporting a decisive breakout through resistance at the $3.34 and ...
Polkadot's DOT surged 6% higher amid a rally in crypto markets, with strong volume supporting a decisive breakout through resistance at the $3.34 and $3.44 levels, according to CoinDesk Research's technical analysis model.
The model showed the price found strong support at $3.25 during the 01:00 hour with above-average volume, establishing a solid foundation for the subsequent rally.
The move higher in DOT came amidst a wider rally in crypto markets, with the broader market gauge, the Coindesk 20, up 4.2% at publication time. Polkadot is also holdinga live AMA(Ask me Anything)on X on July 8.
In recent trading, DOT was 7.2% higher over 24 hours, trading around $3.57.
Technical Analysis:
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Will Canny is an experienced market reporter with a demonstrated history of working in the financial services industry. He's now covering the crypto beat as a finance reporter at CoinDesk. He owns more than $1,000 of SOL.
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