Polkadot prices reached $8.58 on 22nd December before slipping lower.
This was a new high for 2023 and the market structure supported the idea of another rally.
Polkadot [DOT] gained 47% in December and has rallied 20% within just the past two days based on the prices at press time. The blockchain also saw a major increase in its revenue, which pointed toward increased usage.
The recent rally past $7.9 meant DOT has registered a new high for 2023. The technical structure showed that further price gains were likely after a minor step backward in the coming days.
The bearish order block was about to be broken
Source: DOT/USDT on TradingView
At the time of writing, DOT had closed a one-day trading session above $7.9. In the next few days, a retest of the $7.2-$7.9 region can be expected. After that, the token will likely continue its rally and push toward new highs.
The $7.2-$7.9 area represented a bearish order block on the one-day chart. The chart above was a three-day chart, which hi
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