Stock Groups

Polkadot eyes breakout to $75 after DOT price rally sets up classic bullish reversal By Cointelegraph

[ad_1]


Technicals of the (DOT) chart suggest that it might New record: A rallying cry near $75 if DOT can manage to close above its $41–$43 range decisively.

That’s according to a classic bullish reversal setup known as an Inverse Head and Shoulders (H&S) that forms when the price undergoes three selloffs during a period of market consolidation.

Illustration of the inverted head-and-shoulders pattern. Source: ThinkMarkets
The weekly price chart shows the inverse head/shoulders arrangement. Source: TradingView