$DOT Technical Overview

• Current Price: $7.9

• EMA-34 (Daily): $7.55

• Polkadot (DOT) has retested the EMA-34 (daily) three times in the past month and successfully bounced each time, confirming it as a strong support level.

• The recent higher lows suggest strengthening bullish momentum and a potential breakout to the upside.

Key Indicators Supporting the Buy Signal

1. EMA-34 Bounce:

The repeated bounce from the EMA-34 signals strong buying interest at this level, reflecting a well-supported accumulation zone.

2. Bullish RSI Divergence:

The RSI on the daily timeframe is currently at 52, trending upwards and exiting neutral territory. This indicates growing bullish momentum without being overbought.

3. Volume Surge:

Over the past three days, trading volume has increased by 18%, suggesting accumulation by market participants in anticipation of an upward move.

4. Fibonacci Levels:

• The immediate target of $11.50 aligns with the 0.618 Fibonacci retracement level, a critical resistance zone that aligns with strong historical price action.

• Breaking this level could confirm a short-term pump trend continuation.

5. MACD Crossover:

The MACD histogram is turning positive, with the MACD line crossing above the signal line, a bullish confirmation.