- The coin is following the downward trend with a steady downward trend
- The current price of the coin is around $6.28 with a total loss of 0.94% during the intraday trading session
- The pair of DOT/BTC is surfing around 0.0003277 BTC with a drop of 1.07% in the last 24 hours
The bears are dominating the market of the Polkadot. A huge win for the bears is the price decline of Polkadot. Considering how well the bears are executing each and every strategy and the gradual decline the price is following, it would seem that the bulls have given up for the day. Because the bull isn’t moving, the bears are making fantastic progress toward their objectives and accomplishing them rapidly. The efforts of the bears have now shown results, giving investors a financially viable investment. As the coin entered a negative trend, investors are keeping an eye out for a downward trend. We must now wait and watch to see what the bulls do next. Will the downward trend persist, or will they push Polkadot’s price to their set targets?
With a loss of around 0.94% during the intraday trading session, the price of Polkadot is at $6.28. The pair DOT/BTC is now trading at 0.0003277 BTC, down around 1.07% over the last day. The primary resistance is approximately at a price of $7.81, and it appears that the bulls are attempting to break into the trade. If the upward trend comes into existence, the price may rise to the secondary resistance, which is about a price of $9.54. And if bearish dominance persists, the price may follow a downward trend and approach a primary support level of around $5.13. If the downward trend continues, it may also contribute to a price reversal, with the price possibly reaching secondary support of $4.72.
DOT is behind by the daily moving average of 20, 50, 100, and 200 days. A negative cross resulted from the collapse of the exponential moving averages of 20 days and 50 days. In the past 24 hours, the coin’s volume has declined by about 11.38%. Around 0.03628 is the volume-to-market cap ratio. The volume drop demonstrates the increasing selling pressure.
The technical indicator shows the following The previous intersection of MACD signal indicates a negative cross.The relative strength index is in oversold territory. The RSI’s current value is 33.82 which is lower than its average RSI of 43.86. The Stoch RSI is now below the average Stoch RSI, placing it in the oversold region. The current Stoch RSI is 0.00 and the average Stoch RSI is 3.68 this indicates that the RSI could bounce back to the overbought zone.
Conclusion
The current price of the coin is around $6.28 with a total loss of 0.94% during the intraday trading session. The pair of DOT/BTC is surfing around 0.0003277 BTC with a drop of 1.07% in the last 24 hours. DOT is behind by the daily moving average of 20, 50, 100, and 200 days. The coin’s volume has declined by about 11.38%. The RSI’s current value is 33.82 which is lower than its average RSI of 43.86. The current Stoch RSI is 0.00 and the average Stoch RSI is 3.68. New investors could enter the trade as the price may bounce back. And this could be a good opportunity for investors.
Technical Levels
Support Levels: $5.13 and $4.72
Resistance Levels: $7.81 and $9.54
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
