DOT had a strongly bullish outlook after climbing past significant resistance levels.
The 2022 downtrend’s lower highs could serve as resistance on the way up.
Polkadot [DOT] continued its bullish run after a dip to $7.57 on the 23rd of December. Earlier, AMBCrypto had reported that the $7.1-$7.9 was a strong demand zone for DOT from a higher timeframe perspective.
Polkadot also saw a surge in network activity on the 21st of December. This saw a major boost to its blockchain revenues as well, heralding good news for investors.
The breaker block served as a demand zone
Source: DOT/USDT on TradingView
AMBCrypto’s technical analysis of DOT on the one-day chart showed a firmly bullish bias. The $7.1-$7.9 region was a strong zone of resistance based on the three-day chart. It was also the previous high for 2023.
Over the past two weeks, the bulls built up enough pressure to drive prices past the $7.9 mark. They followed this up with a retest of $7.57 and another push higher. DOT was t
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