Polkadot (DOT) Defies Market Volatility, Holds Strong Above $4.8 Support Level
In markets that are usually characterized by sharp fluctuations and unpredictable trends, polka dot (DOT) has become a beacon of stability, ignoring wider volatility to be above the critical $4.8 support level. Although other Altcoins experienced uncertainty, DOT managed to maintain stability, indicating strong buying interest in buying in this key price area.
This stable performance is because the Bulls try to build momentum in search of potential breakthroughs. But as broader volatility in the market is still working, traders are paying close attention to whether DOT can maintain its strength and push higher, or whether selling pressure will test its determination. Will Polkadot’s stability pave the way for upward movement, or Retest Lower levels are inevitable?
DOT’s price action: Can the bulls be based on this stability?
Despite market volatility, DOT currently shows impressive resilience, bringing the company above the $4.8 support level. This stability suggests that buyers are actively defending this critical area to prevent deeper declines.
Related Readings
Although cryptocurrency currently trades below the 100-day simple moving average (SMA), it is working to push the momentum up to the $6.2 resistance level. Its upward attempts show that bullish sentiment remains, and while downward pressure continues to decline, buyers’ goal is to retract control.
Additionally, the relative intensity index (RSI) line tends toward a 50% threshold, indicating a change in momentum. The movement shows that buying and selling pressure is approaching equilibrium, which makes it crucial to determine the next price transfer in the short-term trend.
If the RSI successfully rebounds and moves more than 50%, it may be marked Bullish Revival, the increase in purchasing pressure has driven prices. Conversely, if the RSI fails to lower and tilt further, it may indicate an increase in bearish pressure, thereby increasing the risk of downward continuation.
What’s next for Polkadot? Potential plan above and below $4.8
If buyers gain momentum, a breakthrough above $6.2 can open the door rise. The next key resistance levels to watch are $7.7 and $9.8, which are able to drive bullish rally as volume increases. Continuous movement beyond these levels could have laid the foundation for Polkadot to retest the $11.9 region, further strengthening positive sentiment.
Related Readings
On the other hand, if sales pressures intensify and $4.8 lost support, then in a bearish situation, the price could retreat to $3.5 or even $1.9. Deeper corrections may trigger additional downside risks, forcing the Bulls to step in and defend the lower support zone.
At present, market sentiment and key technical indicators will determine the next major measure. regardless polka dot Based on its stability or facing a pullback, traders should remain cautious and pay attention to volume shifts, RSI trends and overall market conditions to confirm the next direction.
Featured images from Medium, charts from TradingView.com
