• Polkadot hints at a downward move towards $20.34, following a 37% upsurge.
  • Bulls’ exhaustion might see the altcoin pulling back before a 55% urge.
  • A 24hr candlestick close beneath $18.65 will annul DOT’s optimistic thesis.

Polkadot (DOT) highlights uptrend continuation signals similar to the 2020’s fractal. History repeating itself will mean an affluent future for Polkadot and its enthusiasts.

For now, the alt trades with slight bearishness after the latest impressive rally. DOT changed hands around $22.59 t this publication, showing a 1.17% drop within the past day. Nevertheless, analysts remain optimistic about the token.

DOT at Inflection Zone

Polkadot price formed a triple bottom shape near $3.91 for approximately 44 days in 2020 September. An explosive upside move followed this pattern, pushing the alternative token to its ATH of $50. The hints after and before the triple bottom appear to repeat. That has Polkadot forming a fractal pattern.

Polkadot has gained 40% to face the resistance barrier at $22.45 since forming a triple bottom on 6 March. A slight correction towards the closest support at $20.34 appears possible. That’s considering the massive upward move within the previous two weeks.

Meanwhile, the anticipated retracement will allow bulls to recuperate before catalyzing another upsurge for the token. Such a move targets the resistance zone at $31.40, translating to a 55% gain for Polkadot.

While Polkadot’s fractal appears to play out well for DOT, Bitcoin reversing its current trend might mean downside reactions for Polkadot. Such developments will open doors for downswings.

A daily candle close under $18.65 will cancel DOT’s optimistic thesis. Nevertheless, the downward move might catalyze panic selling if it erases the latest gains. That would see the alternative token revisiting the support barrier of $15.85.

For now, DOT seems on a downside path, heading towards the $20.34. That comes as bulls seemed exhausted following the 37% surge. Though the downward move might appear bearish, it would allow bulls to gain the needed strength for a massive upside.

Such developments might see the alternative token gaining 55% to explore the $31.40 mark. Nevertheless, the upsurge remains contingent on Bitcoin’s directional bias.

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