Polkadot is testing a critical resistance level at $4.27, with the RSI and 50-day SMA show that the trend is flipping bullish.
traded at $4.25 at press time after a nearly 2% gain in 24 hours. The altcoin has faced strong resistance above its current price, with every breakout attempt failing due to a lack of buyer support.Besides these rising volumes, several indicators suggest that the trend could be reversing.Bulls are getting ready to support DOT’s breakout above the $4.27 resistance level. This price has acted as a strong resistance for nearly two weeks, showing a lack of interest by buyers.
However, on Binance, there seems to be a significantly higher number of long traders than short traders, with a Long/Short Ratio of 4.37.One of the factors that might be hindering Polkadot’s breakout above resistance is a drop in network activity.
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