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Will Polkadot’s strong short-term advance boost its climb to these levels
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ambcrypto.comBitcoin’s recent bullish momentum saw most of the market register gains. Polkadot was no exception. It has, in fact, performed very well. Polkadot gained an impressive 28% in a period of four days, to reach the key level at $29.8. At the time of writing, it saw a pullback to $28.27.
Source: DOT/USDT on TradingView
DOT formed a descending wedge pattern (white), over the past two weeks and broke out a few days ago. It climbed steadily and rapidly to the $29.81 level. A higher timeframe level of resistance was also present in the vicinity, at $29.86.
Using the Fibonacci retracement tool for DOT’s surge from $23.27 to $29.81, we find that the price has seen a pullback to $28.27 already, which was the 23.6% retracement level.
The $28-$28.4 area has
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