![Polkadot [DOT]: Retest of $7 likely if BTC traverses this path](https://i.headtopics.com/images/2023/4/28/cryptoamb/polkadot-dot-retest-of-7-likely-if-btc-traverses-t-polkadot-dot-retest-of-7-likely-if-btc-traverses-t-1651731201579708416.webp)
Polkadot’s [DOT] pullback retest on key support could prop up its short-term prospects only if BTC recovers higher price ranges.
still exhibited choppiness. It retested $30k before dropping sharply back to $27k on 26 April. At press time, BTC reclaimed the $28k zone, setting DOT to edge higher. However, persistent BTC fluctuations can whipsaw DOT.In the past six weeks, the price action has retested the bullish order block and support level near $5.76 three times. The first retest faced price rejections near $6.5, while the second retest edged higher and hit $6.959 after a little stalling near $6.5.
As such, DOT could rally and retest the resistance and bearish order block of $6.959. However, an FVG within $6.552 – $6.799 could also offer resistance to the likely recovery. At press time, the RSI retreated sharply to lower ranges but inched closer to the neutral level – a dip in buying pressure, but buyers remained steadfast. Notably, the OBV edged higher – reinforcing the buying pressure.According to Coinglass, the exchange DOT long/short ratio showed long positions were dominant at 50.09% on the 4-hour timeframe at press time.
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