- Polkadot (Dot) increased during the second quarter of 2024 of its lowest levels about $ 3.61 to high levels of $ 11.61, but has since struggled to overcome the main resistance.
- The modern gray deposits of Spot Dot ETF renewed the attention and liquidity of trading, however, Dot is still restricted by a decisive barrier at about $ 5.35.
- Technical indicators show mixed signals – while RSI and MACD remain defeated, Rising obv and CMF indicate the installation of bullish momentum.
Polkadot price was under pressure amid a shrinkage in the broader market, even with the passage of assets on a 200 % dramatic march during the second quarter of 2024, which raised its value from the lowest level to $ 3.61 to $ 11.61.
Despite this impressive extent, Dot was unable to penetrate the main resistance barrier, as Haboodi flags continued to hinder its upward momentum throughout the month.
Modern developments, especially gray deposits of ETF, have achieved the new point of optimism in the market. This increase in liquidity and trading interest indicates that a huge step on the horizon can be on the horizon. However, the decisive question remains: Can the bulls mobilize enough power to push the point above the decisive resistance level at 5.35 dollars?
Polkadot future expectations
Technical plans reveal that DOT is currently testing a descending trend line – a strong resistance that has been developed since the beginning of the year. The RSI (RSI) has remained uniform within the lower ranges, and MACD is in a negative range.
However, signs of a possible difference in MACD and an escalating movement in RSI indicate that the upscale momentum may be constructive. In addition, both the balance of balance and the flow of Chaikin (CMF) increased, indicating increased liquidity and the strength of the buyer.
If the bulls raised the outbreak of 0.000? The level (about $ 5.39), DOT can challenge additional resistance near $ 6. Such a step will be very important to preserve the upscale momentum, especially in a year that is announced as “the year of the inventory investment funds.”
On the other hand, if you resume the sale of pressure and the failure of DOT to keep the support area, the distinctive symbol may continue to struggle and even decrease, which discourages investor morale.
In short, while Polkadot is currently competing with great resistance, the renewed liquidity and optimism that ETF provides a potential stimulus. Investors will closely monitor if DOT can secure a decisive step exceeding $ 5.35, which paves the way for a strong transfer of about $ 6 and beyond.