$DOT Identifying a DOT Round Bottom Reversal
A round bottom pattern forming on Polkadot's (DOT) chart is a significant, long-term bullish reversal signal, indicating a slow and steady transition from a prolonged downtrend to a new upward trajectory.
This pattern forms as DOT's price gradually curves downward before establishing a broad, rounded base, resembling a bowl. This slow formation reflects a gradual exhaustion of selling pressure and a quiet accumulation of assets. A key hallmark is declining volume during the descent, with volume steadily increasing as the price begins to rise from the right side of the bowl.
The bullish reversal is confirmed when DOT's price breaks decisively above the resistance level established at the pattern's starting point, often called the "rim." This breakout projects a significant upward move, with a minimum target equal to the depth of the bowl.
Ultimately, this pattern represents a major shift in market structure, where patient accumulation gives way to a powerful new bullish trend for DOT.$PIPPIN $POWER
