Polkadot shows signs of recovery: Is $4.25 the next target?
Polkadot (DOT) shows upside potential, driven by bullish indicators and liquidity dynamics. Recently, DOT’s moving averages have flattened and the MACD indicator is showing higher lows, suggesting that the market may be recovering.
Despite the recent decline, market sentiment is gradually becoming more optimistic, and analysts believe that DOT may form a bottom in the last quarter of 2024.
The current price is forming a double bottom near $3.56, which could pave the way for a reversal.
Chaikin Money Flow (CMF) is showing a divergence from price action, suggesting there is accumulation in the market and buying pressure may be about to push prices higher.
The current proportion of long positions in DOT has increased to 73%, indicating that investors are increasingly bullish. Liquidity dynamics also support price gains, with the current area of higher liquidity close to current prices and a possible price target of $4.25.
Taken together, the outlook for Polkadot is positive, and investors are paying close attention to whether it will see a significant rise in the near future.
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