Polkadot Price Analysis: DOT retests $24.5 support, prepares for a reversal?

TL;DR Breakdown Polkadot price analysis is bullish for today.DOT/USD continues respecting $24.5 support.DOT is set to move higher today. Polkadot price analysis is bullish for today as the $24.5 support has been retested for the third time, and any further downside was not seen. Therefore, we expect DOT/USD to reverse later today and move back above the $27 resistance. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded with a slight loss over the last 24 hours. The market leaders, Bitcoin and Ethereum, have lost around 1 percent, while Tezos (XTZ) is among the best performers, with a gain of 13 percent. Polkadot price movement in the last 24 hours: Polkadot still holds $24.5 support DOT/USD traded in a range of $24.35 – $26.53, indicating strong volatility over the last 24 hours. Trading volume has declined by 26.99 percent and totals $1.7 billion. The total market capitalization trades around $24.44 billion, ranking the coin in 9th place overall. DOT/USD 4-hour chart: DOT ready to reverse again? On the 4-hour chart, we can see the Polkadot price action preparing for another push higher later today. DOT/USD 4-hour chart. Source: TradingView Polkadot price action has traded with a strong bullish momentum over the past month. From the last swing low of $10.5, DOT/USD has gained more than 180 percent to the $29 mark. However, bulls failed to reach higher and, after a several-day consolidation, ...