Polkadot (DOT) recently broke out of a consolidation range, sparking optimism for a trend reversal after a 19% dip in January.
DOT found support around $6.79–$6.72 and is now near $7.50, but faces resistance at this level.
Bullish indicators like RSI are rising, but DOT needs to surpass $8–$8.14 for a sustainable reversal.
Polkadot (DOT) price busted out of a lengthy consolidation range this week, sparking optimism for a sustained trend reversal following weeks of listless action. The breakout comes on the heels of a choppy January that generated 19% dip, even amid similar base-building across crypto markets.
After sliding 12%, DOT discovered support confluence between $6.79 and $6.72 toward the end of the month. The token then fluctuated in an increasingly tight band until bulls registered enough power for an upside resolution.
The breakout now leaves DOT pushing near the upper threshold of its recent equilibrium around the $7.50 mark. Moving above there requires taking out severa
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