Polkadot (DOT) could validate a long-term bullish pattern with a breakout from a short-term descending wedge
Polkadot(DOT) Price pumps on Tether news, breakout looking likely.
Polkadot has created a double bottom pattern it is trading inside a shorter-term descending wedge.
Tether expressed that it was launching on Polkadot on Sept 23, and now USDT can be minted in the Polkadot blockchain.
Paolo Ardoino the CTO of Tether said:
"Polkadot is on a trajectory of growth and evolution this year, and we believe Tether’s addition will be essential in helping it continue to thrive"
DOT price looks like a bullish pattern. the price may have been trading inside a descending wedge since the beginning of May. the price action shows bullish signal technical indicators do not. the daily RSI is decreasing currently RSI is below 50 and has not generated any bullish divergence the direction of the future moment is still unclear.
The live Polkadot price today is $6.37 with a 24-hour trading volume of $304,428,858. Polkadot is up 0.79% in the last 24 hours. The current CoinMarketCap ranking is #11, with a live market cap of $7,141,552,596 USD. It has a circulating supply of 1,120,488,497 DOT coins
Dot price statistics the price change of DOT of 24 is $0.0432 of 0.69%, 24h Low is $6.12, and 24h High is $6.42 with 0.77% market dominance.
The last seven days chart is showing bullish. it indicates that DOT is in the process of creating a double bottom pattern above the $6 support line.
DOT weekly graph supports the validation of the descending wedge and a potential breakout afterward.