Polkadot’s native crypto DOT finally found favor with the bulls in November after months of sustained sell pressure.
However, the bears are back again doing their thing this month judging by pullback that occurred from its recent peak.
DOT price peaked at $11.64 on 4 December and has since dipped by over 35% to its recent low of $7.5 on 9 December. This pullback signaled that heavy profit-taking ensued after the November rally.
More importantly, the recent pullback dropped into an important Fibonacci level. It came in between the 0.618 and 0.5 Fibonacci price levels, based on its November lows to its recent top this month.
DOT price action / source: TradingView
DOT sell pressure has notably cooled off since it entered the Fibonacci zone. This is because it is in this zone where the bulls are likely to regain their momentum. This suggests that DOT re-accumulation had already resumed.
DOT Spot Outflows Intensified This Week
While bullish momentum is expected with the rec
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