Çağnur Cessur highlights that Polkadot (DOT) has been trading within a defined black channel on the monthly chart, ranging from $4 to $12 over the past 4-5 years. A breakout beyond this range could indicate a new trend. Cessur notes a recent bullish signal with a breach of a red falling channel on the weekly timeframe, suggesting potential upward movement. However, if DOT falls below the critical $4 support level, it could trigger deeper losses, potentially revisiting all-time lows. Maintaining above $4 is crucial to sustain bullish momentum and avoid shift in market sentiment to risk aversion.
Polkadot Price Caught In A 5-Year Channel – Can It Finally Break Free?
