Polkadot ($DOT) has recovered to move past $4.50, gaining over 3% during the current session. $DOT is coming off a bullish week, pushing above the 20 and 50-day SMAs.
$DOT is up over 3% in the current session, and managed to push above $4.50, looking to close the week on a bullish note.
$DOT Weekly Recap
Polkadot ($DOT) closed the previous week on a bearish note, falling to a day low of $3.95 on Thursday. The altcoin dropped to a low of $4.09 last Sunday but recovered to close the session at $4.16, a 0.95% decline. Despite its bearish end to the week prior, $DOT began this week on a bullish note, registering a 5.05% increase on Monday, which pushed the altcoin above the 20 and 50-day SMAs to settle at $4.37. A volatile session on Tuesday saw sellers attempt to push $DOT below its moving averages while buyers tried to push the coin above $4.50. Following a battle between buyers and sellers, $DOT again stalled at $4.50, eventually closing the session at $4.41 – a 0.92% increase.
$DOT took a turn on Wednesday after buyers lost momentum, dropping by over 2% to $4.32. The altcoin settled just above its moving averages, and market watchers were hopeful that $DOT could recover from this level. Increased selling pressure on Thursday saw $DOT drop below its 20 and 50-day SMAs. Sellers managed to drag $DOT down by over 3% to settle at $4.19.
Polkadot ($DOT) Makes Significant Recovery
Following Wednesday and Thursday’s severe decline, $DOT substantially recovered on Friday, gaining 2.63% during the session to push back above its moving averages, settling at $4.30. The altcoin continued its recovery on Saturday, gaining 2.84% during the session and settled at $4.43. $DOT came close to pushing above the $4.50 level, reaching a day high of $4.48 before dropping.
Buyers maintained the upward momentum today, breaking through the crucial $4.50 level. $DOT reached a high of $4.59 during the session before dropping back to $4.57, recording a 3.30% increase over the session.
With buyers currently in charge and a successful push above $4.50, we could see $DOT move to $5. Technical analysis shows that bulls have the upper hand, and Polkadot could potentially jump.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer
The information provided in this article is only for educational and informational purposes and should not be considered financial or investment advice. We are not licensed financial advisors. Always conduct your research and seek guidance from a certified financial professional before making any investment decisions.
