Polkadot Under Fire: 20% Price Drop Follows $87 Million Spending Outrage
The winds of change are swirling around Polkadot (DOT). After a month-long slump that mirrored a broader cryptocurrency market downturn, DOT finds itself at a critical juncture. Technical indicators hint at a bullish reversal, with some analysts predicting a significant price surge for the interoperable blockchain darling. However, a recent spending spree by the Polkadot Foundation has cast a shadow of doubt, leaving the community divided. Falling Wedge Hints At Breakout, Analysts Eye $9 Target As technical analysis presents a potentially hopeful picture, DOT holders’ hope wavers. On....
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As the price drops to $7.55, the Polkadot (DOT) price analysis suggests that the trend is still bearish. Polkadot price analysis reveals a downward trend DOT/USD has looked for support at roughly $7.49 DOT/USD is encountering resistance at $7.74 Previously trading at about $7.74, Polkadot is now looking for support at about $7.49. The price of DOT/USD is still facing resistance at $7.74, but if it drops below $7.49, it might find support at $7.32. and $7.05. If it declines below that, it might find support there. Around these levels, Polkadot might feel some selling pressure, but if it....
A dip is common in the cryptocurrency market during a bearish downtrend. Most times, it could persist for a prolonged period. The current crypto winter of 2022 has seen the value of many coins drop. Investors are carefully weighing their options and considering if buying the dip is a smart move in the current market. Some investors move their assets to perceived safer ground as they brave the storm. In a price chart, a dip is identified as a valley. For Polkadot, expert predictions are varied on when the coin will eventually make the much-anticipated price comeback. Related Reading: Flow....