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Polkadot Price Analysis: DOT Fails To Get Past $7.5, Another Decline Coming?
The post Polkadot Price Analysis: DOT Fails To Get Past $7.5, Another Decline Coming? appeared on BitcoinEthereumNews.com. Polkadot (DOT) saw a sharp midweek decline after bears provided strong resistance at the $7.5 level, leading to a decline of over 5% to $7.19. While DOT is still moving range-bound, its support level has held firm, and the price is now testing the higher boundary of this range. Whether it registers a decline or breaks above $7.50 remains to be seen. Polkadot (DOT) Registers Drop From $7.5 The Polkadot (DOT) price saw a sharp decline from $7.62, as bears provided a strong level of resistance at the 200-day SMA. DOT had ended the previous week in the red after dropping 3.21% on Sunday and dropping to $6.93. However, it was able to find support thanks to the 20-day SMA. As bullish sentiment returned to the markets, DOT started the week with a staggering increase of 9.38% as buyers took control. This surge helped DOT move past the 20-day, 50-day, and 200-day SMAs, rising to $7.58. This level was a crucial level of resistance, and after a highly volatile session on Tuesday, DOT registered a marginal increase of 0.53%. However, sellers took control on Wednesday, pushing DOT down by $7.46%. The bearish sentiment intensified on Thursday, with DOT going as low as $6.91 and slipping below the 50 and 20-day SMAs. However, it recovered and went back above $7, registering a decline of 3.49% and settling at $7.20, just above the 50-day SMA. DOT registered a marginal increase on Friday after yet another volatile day that saw the price go as high as $7.39 and as low as $7.02 before settling at $7.25. Crucially, DOT was able to stay above $7, indicating that support is building at the 5-day SMA. The current session sees DOT at $7.29, up by 0.55%. If buyers retain control of the session, we could see…
The post Polkadot Price Analysis: DOT Fails To Get Past $7.5, Another Decline Coming? appeared on BitcoinEthereumNews.com.
Polkadot (DOT) saw a sharp midweek decline after bears provided strong resistance at the $7.5 level, leading to a decline of over 5% to $7.19. While DOT is still moving range-bound, its support level has held firm, and the price is now testing the higher boundary of this range. Whether it registers a decline or breaks above $7.50 remains to be seen. Polkadot (DOT) Registers Drop From $7.5 The Polkadot (DOT) price saw a sharp decline from $7.62, as bears provided a strong level of resistance at the 200-day SMA. DOT had ended the previous week in the red after dropping 3.21% on Sunday and dropping to $6.93. However, it was able to find support thanks to the 20-day SMA. As bullish sentiment returned to the markets, DOT started the week with a staggering increase of 9.38% as buyers took control. This surge helped DOT move past the 20-day, 50-day, and 200-day SMAs, rising to $7.58. This level was a crucial level of resistance, and after a highly volatile session on Tuesday, DOT registered a marginal increase of 0.53%. However, sellers took control on Wednesday, pushing DOT down by $7.46%. The bearish sentiment intensified on Thursday, with DOT going as low as $6.91 and slipping below the 50 and 20-day SMAs. However, it recovered and went back above $7, registering a decline of 3.49% and settling at $7.20, just above the 50-day SMA. DOT registered a marginal increase on Friday after yet another volatile day that saw the price go as high as $7.39 and as low as $7.02 before settling at $7.25. Crucially, DOT was able to stay above $7, indicating that support is building at the 5-day SMA. The current session sees DOT at $7.29, up by 0.55%. If buyers retain control of the session, we could see…
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