Is Polkadot eyeing $100 next? DOT price jumps 25% triggering classic bullish chart pattern
Polkadot (DOT) looks poised to rally toward $100 in the coming sessions as it triggers a classic bullish reversal setup.
Dubbed Inverse Head and Shoulders (IH&S), the technical structure appears when an instrument forms three troughs in a row, with the middle one, called the Head, being the lowest, and the other two — known as the right and left shoulders — of almost equal heights.
Meanwhile, the level at which all the troughs top out represents the "neckline."
So it appears DOT has been forming an IH&S ever since its price correction from the $43-$49 price range (neckline), as shown in the chart below. On Nov. 1, the Polkadot token broke above the area and continued rallying the next day to bring its month-to-date returns to almost 25% while
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