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Cryptocurrencies resumed the bullish trend in the last few days of February, after going through a major correction in the last week of last month, which took them more than 1/3 of the previous value lower. Although, only Bitcoin could make new highs this month.
The rest of cryptos couldn’t push to new highs, which was a signal that the massive bullish rally might be slowing down for the moment. Besides that, last week digital currencies went through another decent pullback lower.
We decided to buy Bitcoin on that pullback and closed that trade with some nice profit. Today though, we are seeing another retrace down in altcoins, but Polkadot is not minding the broader crypto market sentiment.
pDOT/USD has broken above the 20 SMA (gray) on the H4 chart now, which used to act as support before, so the bullish trend is back in full swing, after this crypto has gaines around 25% of the value in less than a week and it’s still continuing to push higher today. Now the target is the record high above $40, but judging from the price action, pDOT/USD will likely make new highs soon.
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