Bullish on PolkaDOT
DOTUSDT Polkadot bounced off the moving averages on July 10, indicating a shift in sentiment from selling on rallies to buying on dips.
The bulls will aim to push the price towards the overhead resistance at $5.64, while the bears will attempt to halt the recovery. The 20-day EMA ($5.11) is relatively flat, but the RSI above 52 indicates a slight advantage for the bulls. A breakthrough and close above $5.64 would complete a bullish inverse head-and-shoulder pattern, signaling a potential trend reversal.
To prevent an upward movement, the bears will need to swiftly pull the price below $4.97. In such a case, the DOT/USDT pair may decline to $4.74 and later to $4.50.
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