Polkadot Gains 9% After Breaking Key $2.25 Resistance
Polkadot (DOT) surged 9.2% to $2.28, breaking the critical $2.25 resistance level on a 60% volume increase.Summary
Polkadot (DOT) outperformed the broader crypto market, gaining 9.2% to trade at $2.28 over the last 24 hours after breaking through the critical $2.25 resistance level. This breakout was validated by a 60% surge in trading volume above the seven-day average, suggesting genuine institutional interest rather than just algorithmic noise. Technical analysis indicated a textbook ascending pattern with higher lows established at $2.08, $2.23, and $2.29, confirming bullish momentum. However, a double-top formation near $2.301 signals near-term resistance, suggesting potential consolidation before further upward movement. The former resistance at $2.25 is now considered key support, offering a favorable risk-reward setup for continuation trades if the price breaks above $2.31.
(Source：CoinDesk)