Jakarta, Pintu News – Polkadot is currently showing bullish signs on the shorter time chart and seems to be preparing to break the local resistance level of $4.2. Bitcoin is also trading above the $92,000 level, which adds to the bullish confidence among altcoins. Recent analysis suggests that the $3.8 level is key to convert into support, and this has been successfully done by the DOT bulls.
Bearish structure persists, but hope is still there
The bearish swing structure on the Polkadot (DOT) 1-day chart is still visible, with the high at $4.76 to be crossed to turn the structure bullish. Meanwhile, the $4.18 and $4.44 levels are the crucial immediate resistances.
The flat A/D indicator over the last month shows that buying pressure is still weak, which could be an indication that the bulls are not ready to start an uptrend. The Extraordinary Oscillator is still below the zero line, signaling that momentum is not yet in bullish…
