Polkadot Price Trapped in Tight Range as Bullish 200 EMA Fuels Breakout Hopes
Polkadot's price has been stuck in a tight range for almost three weeks, consistently failing to break above $1.2512 but landing on higher floors each time.
The pattern has been consistent since September 15: DOT rallies toward the resistance band at $1.2512, gets turned back, and pulls into a higher low than the one before it.
Currently, the price is consolidating around $1.1433 in the tightest range seen yet, with the 200 EMA trending bullish steadily upward underneath.
The question now is whether this compression finally resolves with a break above $1.2512 or if it breaks down instead.
According to CoinGabbar analysts, a tightening range while the floor keeps rising usually signals that the market is running out of room for sideways movement.