Polkadot(DOT): Breakout or Rejection, We Are Ready!

Polkadot has reached the major resistance zone in the daily timeframe, which gives us two possible scenarios here:

First scenario: bullish breakout, which would mean we need to secure that upper resistance and turn it into a support zone for further growth from here.

Second scenario: bearish rejection, which would show the dominance of sellers in the current zone and lead price to the middle line of Bollinger Bands (just as last time) and potentially toward that target zone as well!

Swallow Team

Comment:

As of now, we have had a really nice breakout from upper resistance, and price is not pushing towards the upper next zones (having done 4% of market price movement).

We still have some small room to grow here, but as markets are overbought, we have to be careful with ALTs (and Polkadot as well).