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Polkadot eyes breakout to $75 after DOT price rally sets up classic bullish reversal
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Polkadot (DOT) chart technicals suggest it may rally to a new record high 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.
Specifically, the pattern contains an initial selloff, followed by a short-term price rally and another — deeper — selloff. That leads to one more small correction to the upside, followed by another selloff that bottoms out near/at the lowest level of the first selloff.
The first and last selloffs represent “left” and “right” shoulders, respectively, while the second selloff represents the “head.” On the other
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