The cryptocurrency market continues to show strength amid anticipated potential US Federal Reserve rate cuts. Ethereum has reclaimed the $4,500 mark, while Polkadot shows positive trends.
Current Situation in the Cryptocurrency Market
The cryptocurrency market remains strong, with Ethereum (ETH) reaching the $4,500 mark again. Meanwhile, several major altcoins, including Polkadot (DOT), are signaling a bullish trend.
Analysis of Polkadot and its Harmonic Patterns
Polkadot has shown a 10% gain over the past week. On the daily chart, DOT has formed a **Bearish Butterfly** pattern — a setup that, despite its bearish label, often indicates bullish continuations during the CD phase. The structure began at Point X ($4.673) and retraced to Point C near $3.612 but has since bounced back to around $4.21.
Future Projections for Polkadot
If buyers hold above the 200-day moving average ($4.06), DOT could rise towards PRZ zones between $5.012 and $5.443. These levels mark potential technical targets for completing the Butterfly pattern, and analysts will watch closely for further developments.
Currently, Polkadot shows positive signals, and with the ongoing dynamics, many traders expect continued sharp growth. Current support and resistance levels may significantly influence future developments.
