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Polkadot's Price Consolidation and Potential Bearish Zone: A Shorting Opportunity or Bullish Momentum?

The following information is solely the opinion of the writer and should not be taken as financial advice. A collection of top AI tools for various tasks is presented. Polkadot (DOT) has been experiencing price consolidation between $5.19 - $5.49 for most of May, with recent price action closing above the mid-range of $5.3.

However, if Bitcoin (BTC) falters at $27.8k, DOT could also experience a trend reversal at the bearish zone. The FVG zone of $5.47 - $5.61, which lines up with the 200-MA and range high of $5.5, could potentially create a strong bearish zone for DOT.

Polkadot Polkadot $8.46
-4.23%
Polkadot
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