![Polkadot’s [DOT] recovery is likely: Can bulls target pre-FTX levels?](https://i.headtopics.com/images/2023/1/26/cryptoamb/polkadot-s-dot-recovery-is-likely-can-bulls-target-polkadot-s-dot-recovery-is-likely-can-bulls-target-1618497213956608000.webp)
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion DOT found a steady ground, and price recovery could be likely. DOT’s Funding Rate declined, but there was a slight improvement at press time. Polkadot [DOT] bulls secured a steady hold at $6.178. At […]
On the 12-hour chart, the Relative Strength Index was 61, showing a bullish DOT. The On Balance Volume and the Chaikin Money Flow had upticks, indicating that trading volumes increased slightly, thus helping strengthen the DOT current market.
Alternatively, bears could overwhelm bulls, given the low trading volumes. Such a move could plunge DOT below the $6.178 support, invalidating the bullish bias described above. But the drop could settle at the 100-period EMA or the support range of $5.600 – $5.800 .Source: Santiment
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