Polkadot Price Analysis: DOT sets a higher low around $23, slowly prepares for an advance?

TL;DR Breakdown Polkadot price analysis is bullish for today.DOT/USD retests the $23 mark as support.DOT rejected further downside overnight. Polkadot price analysis is bullish for today as a new higher low was established overnight after a retracement yesterday. Therefore, we assume DOT/USD will head higher later this week and look to set further several-month highs. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market trades in the red over the last 24 hours. Bitcoin has lost 3.2 percent, while Ethereum by around 6 percent. Polkadot (DOT) is among the worst performers, with a loss of 9 percent. Polkadot price movement in the last 24 hours: Polkadot retests the $23 mark as support DOT/USD traded in a range of $22.73 – $26.72, indicating substantial volatility over the last 24 hours. Trading volume has decreased by 23.66 percent and totals $2.8 billion, while the total market capitalization trades around $23.6 billion, resulting in a market rank of 9th place. DOT/USD 4-hour chart: DOT prepares for another rally On the 4-hour chart, we can see the Polkadot price action rejecting further downside overnight as bulls prepare for another strong push higher later this week. DOT/USD 4-hour chart. Source: TradingView Polkadot price action has seen an increase of over 150 percent over the past month after a swing low was set around $10.5 on the 20th of July. Several higher highs and lows were set over the past w...