Polkadot ($DOT /USDT) is on fire! 💥 Currently hovering just below $1.5900 and having risen more than 12% in the last 24 hours. After an aggressive breakout, it looks to be strong, with a bullish candle pattern from the recent low of $1.4100 to the current price of $1.5900. Volume was also exceptionally strong on this move, with more than 12 million DOT and almost 19 million USDT traded.
The price tagged the 24-hour high of $1.6020 and has held that level. The Bollinger Bands are expanding to the upside, with price trading along the upper band ($1.5650). Both the Stochastic RSI and the MASTOCHRSI are currently reading 100.00 (overbought), indicating that buyers have significant control over the market.
There is also an increase in green volume bars, which is a confirmation signal for traders. With this strong breakout above the $1.56 support level and this being a Layer 1 / 2 platform, expect further upside potential.
However, you should be aware to look to buy on pullbacks or in continuation of breakouts! What are your targets?
DOT
1.585
+10.76%