COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Is Polkadot Facing a Steep Decline?
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Polkadot (DOT) > Is Polkadot Facing a Steep Decline?
Polkadot (DOT)

Is Polkadot Facing a Steep Decline?

In Brief

  • Polkadot shows a clear downtrend against the dollar.

  • Price struggles to stabilize above $6.00, may fall further.

  • Technical indicators suggest a continued bearish trend.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Polkadot (DOT), recently exhibits a noticeable downward trend against the dollar. If DOT’s price cannot sustain above the $6.00 level, the downward trend may continue. The DOT/USD pair has accelerated its decline below the $8.80 and $8.00 levels. A clear downtrend line with resistance at $6.50 is observed on the 4-hour chart, which could signal a drop towards the $5.00 support zone.

Contents
Polkadot (DOT) Faces Strong ResistanceWhich Levels Could a DOT Price Drop Bring Into Focus?Technical Indicators Suggest a Downward Trend

Polkadot (DOT) Faces Strong Resistance

Although Polkadot’s price has recently experienced a steady increase, it encountered strong resistance around $7.60. After forming a short-term peak due to this resistance, it initiated a new downward trend below $7.00.

A move below $6.20 deepened the decline, with the price reaching a low around $6.03. Currently, the price is trying to balance these losses and is slowly rising above the $6.35 level.

Which Levels Could a DOT Price Drop Bring Into Focus?

DOT continues to be affected by the recent fluctuations in the cryptocurrency market. Currently unable to initiate a rise above the $7.00 level, DOT shows signs of a further downward movement. What should investors do in this situation?

DOT/USD pair’s technical analysis helps identify key support and resistance levels. Currently, if DOT cannot start an increase above the $7.00 level, the likelihood of a continued downward trend seems quite high.

The first significant support level is around $6.00. However, if it falls below this level, the price could decline to $5.65 and even $5.00. Moreover, further losses could open the doors to a move towards the support zone or trend line at $4.20.

Technical Indicators Suggest a Downward Trend

Looking at the technical indicators, we see that the hourly MACD for DOT/USD has lost momentum in the bearish zone. This situation seems to confirm a possible downward trend in the price. Additionally, the hourly RSI (Relative Strength Index) is below the 50 level, which could indicate that bears are beginning to take control of the market.

It is important for investors to closely monitor these support and resistance levels and update their strategies according to the market’s direction. Support levels like $6.00, $5.65, and $5.00 could serve as important guides for future price movements, while resistance levels like $6.50, $7.00, and $8.50 should be carefully watched for upward movements.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

SEC Extends Review Time for Grayscale Polkadot ETF Application

Grayscale Seeks Approval for Polkadot Trust, Could Boost DOT’s Market Appeal

DOT Price Surges Following 21Shares’ ETF Filing

Trump’s Comments Shake Crypto Markets as 21Shares Files for DOT Coin ETF

Polkadot Shows Significant Growth Above $8, Signaling Price Momentum

COINTURK NEWS 1 May, 2024 - 9:07 am 1 May, 2024 - 9:07 am
Share This Article
Facebook Twitter
Share
Previous Article How Did Solana’s Price React to Market Shifts?
Next Article Will the Fed Adjust Interest Rates Soon?
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Solana Welcomes Tokenized Real-World Assets to Strengthen DeFi Growth
Solana (SOL)
Genesis Exposes Financial Missteps in Crypto Giant’s Legal Battle
Cryptocurrency Law
Technology Clash: Bancor and Uniswap Engage in Legal Battle
Uniswap (UNI)
Societe Generale Boosts Crypto Ambitions with Innovative Stablecoin Initiative
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?