Polkadot price retests lower trendline support after the recent breakdown.
Technical signal weak momentum near $4 resistance.
Bulls must reclaim $6 to confirm the upside continuation pattern.
Polkadot price has seen a minor uptick in the past few hours, hovering just below the $5 mark. Over the past week, DOT has declined by 5%, aligning with the broader crypto market’s sideways movement. The recent dip followed a correction phase that pushed DOT below its ascending trendline. Currently, the asset is retesting that support level, which may act as resistance going forward.
Source:
https://altcoinbeacon.com/polkadot-price-targets-10-as-bulls-defend-key-support-zone/.
My questions:
Will the retested trendline now act as strong resistance or allow for a breakout?
What are the volume indicators saying, do they support a potential reversal or further downside?
Are there any bullish or bearish divergences showing up on RSI or MACD?