Discover how DOT's rally to $4.98 hinges on breaking out of its current consolidation phase and other key market indicators...
At the time of writing, DOT was trading within a four-hour consolidation phase and at a major support line, signaling a bullish outlookhas been sluggish since the beginning of the month, remaining within a consolidation phase on the charts. The same was highlighted by its modest price changes – A 0.97% hike over the month, with the crypto gaining by just 1.57% in 24 hours.
Breaking out of this consolidation phase could propel DOT to two potential targets – The first at $4.554 and a subsequent level at $4.982. Without a breakout, DOT may revert to its September low of $3.818.Overall market sentiment seemed fairly bullish too, suggesting an upward trend for DOT in upcoming sessions. Additional insights from AMBCrypto supported the likelihood of DOT’s sustained rise too.
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