Polkadot (DOT) is up almost 3% over the past 24 hours as it continues a steady yet sluggish recovery, which has seen it push to $4.20.

DOT has been extremely bearish over the past couple of weeks. It has seen its support at $4 tested on multiple occasions and dropped to intra-day lows of $3.95.

Polkadot (DOT) Recap

Polkadot (DOT)’s turn into bearish territory began on September 27, when it failed to push above $5, a crucial level of resistance. After being rejected from this level, DOT gave up all of the gains made leading up to reaching $5 in a matter of days, plummeting below the 20 and 50-day SMAs after registering substantial declines. By October 2, DOT was testing the $4 support level and slipped below it the following day, when it dipped to a day low of $3.99 before recovering and pushing back above $4.

DOT’s recovery continued on Friday (October 4) after it registered an increase of 1.45% and settled at $4.19. However, with resistance now building at $4.20, DOT fell back into the red on Saturday, dropping by 1.19% and settling at $4.14. Buyers regained control on Sunday as DOT ended the weekend positively, registering an increase of 1.21% and settling at $4.19.

Unable To Move Past $4.20

Despite ending the weekend on a positive note, Polkadot (DOT) found the going tough as it started the week on a bearish note, with sellers preventing a substantial move past $4.20. DOT began Monday by reaching a day high of $4.27 but fell back in the red after bulls lost momentum and dropped by 1.43% to $4.13. The price continued its downward trajectory on Tuesday, falling by 0.73% and settling at $4.10. Bearish sentiment intensified on Wednesday as sellers pushed DOT below $4 to a day low of $3.95. However, buyers pushed DOT back above $4, settling at $4.02 after a drop of 1.95%.

Source: TradingView

DOT slipped below $4 once again on Thursday, dropping back to $3.95. Once again, buyers propped the price back up above $4. However, buyers retained control this time, and DOT registered an increase of 1.49% and moved to $4.08. Buyers also retained control on Friday, with DOT registering an increase of 2.21% to $4.17. The current session shows that DOT maintains its upward trajectory, with the price up by 0.72% and trading around the $

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Author: Amara Khatri