In the last 4 hours, Polkadot (DOT) has displayed some interesting movement, maintaining a price around $9.47, with a slight dip of -1.34% from its earlier peak. However, the coin remains strong, with a notable 35.63% gain over the last 24 hours, reflecting its strong bullish momentum in recent times. DOT's market action over the past week is even more impressive, showing a 63.76% increase. This aligns with its positive trend in the broader crypto market, where the recent recovery of altcoins has been prominent.
Looking at the technicals, Polkadot is currently testing key support levels. Short-term moving averages (like the 10-hour and 20-hour SMAs) indicate an upward trend, signaling potential opportunities for buyers in the coming hours. However, price action could face resistance if it revisits previous highs, especially around $10.80.
Market sentiment is cautiously optimistic, with Polkadot continuing to be a strong player in the altcoin space. As we move into the next few days, key factors such as broader market conditions, particularly Bitcoin's movements, will likely play a role in determining whether DOT can continue its bullish trajectory or face a retracement.