PolkaDot was a very strong altcoin in 2020-2021 as you can see on the historical chart and we can cleary spot an impulse wave here.
The coin in 2022 fell to the strongest support (0.618 FIB + Wave 1 horizontal support + POC + ABC correction).
If you like fundamentals of this coin, this is definitely a good time to buy, because we have a strong confluence.
The missing part is the descending parallel channel, because the price is still inside the channel, but we have had a nice touch on the bottom.
After an impulse wave - ABC correction is expected and in this case, the ABC correction has been sucessfullly completed with an ending diagonal pattern.
If want to make a short term trade, you can place your profit target at the top of the channel, otherwise next stop is below previous all time high.
Look at my ideas about interesting altcoins in the related section down below ↓