Polkadot Recovery Stalls As Bearish Pressure Returns With $3.5 In Sight

Quick Summary:

After showing signs of a rebound, DOT’s momentum has quickly reversed, casting doubt on its ability to maintain higher levels.  As bearish momentum resurfaces, the market is left wondering whether the bulls can mount a defense or will the bears drive the price even lower, setting the stage for further declines.

Related Reading: Polkadot (DOT) Seen Reversing Losses With 116% Rally To $10 – Analyst Conversely, a rebound could occur if Polkadot holds above the critical support level, signaling a potential move toward the $4.8 resistance mark.

DOT Down 65% Technical analysis on the 1-day chart also shows that Polkadot is making a bearish move toward the $3.5 support level, highlighted by the formation of a bearish candlestick.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: United KingdomNigerNigeria

Topics: DOTUSD Polkadot Relative Strength Index Simple Moving Average SMA Polkadot DOTUSDT DOT RSI

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-11 @ 14:30:37 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 507 words

Reading Time: 3 minutes read

Sentences: 77 lines

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Copyright Owner: © NewsBTC

News ID: 22461058

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