Despite the drop in Polkadot (DOT) price earlier this month, investors remain optimistic about this cryptocurrency and continue to invest in it.
The steady increase in capital inflows since mid-month indicates growing interest and confidence in the Polkadot project. These factors suggest a strong belief in the project's potential, which could lead to sustainable price growth in the future.
To confirm a real upward trend, Polkadot needs to break out of the current range between $5.5 and $6.5. If this happens, the price could reach $7.2 and $8.3. The current range is suitable for entry, with a stop-loss for this analysis being a daily candle closing below $5.5.
The steady increase in capital inflows since mid-month indicates growing interest and confidence in the Polkadot project. These factors suggest a strong belief in the project's potential, which could lead to sustainable price growth in the future.
To confirm a real upward trend, Polkadot needs to break out of the current range between $5.5 and $6.5. If this happens, the price could reach $7.2 and $8.3. The current range is suitable for entry, with a stop-loss for this analysis being a daily candle closing below $5.5.
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