Polkadot Under Strong Bearish Influence , Will The Nearest Support Level Hold?
Polkadot continues to face downtrend on its chart as broader market strength also remained low. Over the last 24 hours, DOT lost close to 8% of its market value invalidating weekly gains that DOT secured. Technical outlook for the coin indicated bearish price action. In accordance with the same, it is likely that the coin might not be able to hold itself above the $6 support level. The coin has been witnessing stiff resistance at the $7.20 mark. Only if the coin manages to trade above $7.20 for a considerable period of time, the bulls could be back. On the developmental front, Polkadot is....
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Polkadot (DOT) has held itself for sometime at the current price level. The consistent downslide of major market movers have pushed many altcoins near their immediate support and below their nearest resistance levels. Recent market conditions have been quite harsh for investors. The returns have been questionable. Polkadot (DOT) has witnessed a sharp fall in buying strength owing to the same bearish condition of the market. The coin has been in the limelight in the recent times due to the latest development. These developments are related to interoperability and features of multi-chain....
The price of Ethereum (ETH) has struggled to hold above $2,000 against Tether (USDT) after being rejected from that region. Ethereum price in the past few weeks outperformed the price of Bitcoin (BTC) but has shown bearish signs indicating the ETH price could be set to retest the nearest support. Related Reading: TA: Ethereum Could Take Hit As The Bulls Show Weak Hands Ethereum (ETH) Price Analysis On The Weekly Chart From the chart, the price of ETH saw a weekly low of $1,700, which bounced from that area and rallied to a price of $2,030 after showing great recovery signs in recent....
Solana has fallen on its chart over the last 24 hours by 2%. Over the last 24 hours, there has been strong bearish influence on SOL’s price. Currently the coin has found support on the $34 level. The market also has been taken over by the bears, Bitcoin has been hovering around the $20,000 mark for the last 24 hours. Other market movers have also retraced in their respective charts. Technical outlook of the coin continues to point towards negative price action suggesting that price of Solana can fall further. Selling pressure in the market has started to mount indicating that price....
Polkadot has displayed negative sentiments on the chart today. Over the last three months, the coin had continued to hold its prices above the $14.40 price mark. At press time today, DOT was trading extremely close to that level. This comes after Polkadot had registered a price hike to $19 during the third week of last month. The bulls had tried very hard to defend the prices at the $16 price support level. DOT went on a slide and it hasn’t halted since. Prices of the asset tried to trade above the aforementioned support line and tried to push the price north but it seems like aiming....
Polkadot has been on a sharp decline over the last week as the broader market extended losses at press time. Bitcoin nosedived to $28,000 and presented a loss of 7% over the last 24 hours. All major altcoins have followed the same path registering losses on the daily chart. Polkadot was trading in a descending trendline, although, DOT tried to recover on charts. The recovery can be stalled if buyers don’t return to the market. The price of the altcoin was trading close to its immediate support of $8.04. DOT was last seen trading around this price last in July 2021. In the last four....