The price action for Polkadot (DOT) showed a sharp reversal, which can be characterized as a classic “V-bottom” pattern. This usually occurs at key price zones, this case, $4.80.
Initially, the price dropped sharply from a high of $5.147 around 12:30, descending to a low of $4.758 by 13:30.
This rapid descent reflected a strong bearish sentiment during the early trading session.
After reaching the bottom, DOT experienced a steady recovery. It was followed by a sudden sharp increase, culminating at $5.17 at the time of writing.
This represented a complete retracement back to its starting high, signaling a potent bullish response.
DOT/USDT 1-minute chart | Source: Ali/X
The sharp rebound after touching the low suggested a strong buying interest at lower levels. That was likely viewed by traders as an attractive entry point.
The U-turn pattern indicated a potential continuation to the upside if the momentum persists.
However, it’s crucial to monitor if DOT can sustai
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