has mirrored the broader market’s recovery, breaking out of a 4-month slump, largely fueled by post-election hype that pushed it close to $6. However, a three-day pullback saw it drop to $4.75, with daily lows nearing 7%.
Typically, an exit without sufficient buying pressure leads to a pullback. In contrast, consolidation – where there is a balance between buying and selling – often sets the stage for a breakout. Certainly, bulls have shown confidence in Polkadot’s long-term prospects, but this may not be enough to ensure a clear breakout. For a breakout to materialize, bulls must maintain the price above $5, potentially triggering consolidation.Consistent accumulation will be crucial to prevent DOT from reversing course and to stabilize the price, setting the foundation for sustained growth moving forward.
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