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Polkadot’s price has registered a rise of almost 30% in the last 24 hours, erasing almost a month’s worth of losses. This sharp rise surprised traders who expected Bitcoin to lead the move.
But this time, the digital currency king played a limited role in the DOT hack. Although Bitcoin remains the benchmark asset, Polkadot seems to have begun to decouple from its direct influence.
Polkadot finds the support of investors
Polkadot’s correlation with Bitcoin has decreased in recent weeks. This measure is currently at 0.36, which indicates a weak correlation between the two axes. The lower correlation indicates that DOT is still moving more according to internal factors rather than being influenced by broader btc price fluctuations.
Take advantage of decoupling in favor of altcoins during periods of Bitcoin consolidation. Low dependency reduces vulnerability and enables Polkadot replied to their own liquidity and demand trends. These structural changes show that DOT may be on its way to an independent recovery.
The Chaikin Money Flow indicator supports this analysis. CMF registered a strong increase during the rally, confirming the presence of strong capital flows At Polkadot. High CMF values ​​usually reflect increased buying pressure from major market participants.
Strong earnings suggest that large holders may have contributed to the price rally. The CMF often captures institutional or whale accumulation patterns. The continued positive readings support the hypothesis of continued bullish momentum on DOT price action.
The DOT price has an upper limit at the moment
Polkadot price trading currently At $1.60 at the time of writing these lines, after an increase of almost 30%. The altcoin briefly tested the $1.70 level, but failed to hold the $1.64 level as confirmed support. This frequency highlights new resistance near current highs.
The settlement chart reveals a large concentration of short positions near $1.70. Short settlements worth about $1.30 million are concentrated at this level. A decisive breakout could lead to a complete short liquidation worth $3.04 million. This forced buying can accelerate the price increase.
If the bullish momentum continues, DOT could extend towards $1.79 in the near term. However, upward movement depends on continued capital inflow. If the buying pressure fades, You can repeat the points test Support is at $1.52, which is in line with the 61.8% Fibonacci level. Missing this bull market support will invalidate the short-term bull theory.
