Polkadot Price Analysis: DOT Continues to Crash Further Under the Weight of the Selling Pressure

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


DOT has been very bearish since November 2021. The coin formed a peak at $55 before the market set in for a consistent decline in price. The market has dropped by 88% since a significant high was formed in November.

Critical Demand Zones: $6.50 & $6.00
Critical Supply Zones: $8.00 &$ 9.50

Polkadot Price Analysis: DOT Continues to Crash Further Under the Weight of the Selling PressureDaily Moving Averages:
MA20: $7.30
MA50: $7.80
MA100: $7.50
MA 200: $11.50

Technical Analysis

The Daily Chart
The months of July and August had a significant move against the overall bearish trend. The price moved from $6.00 in mid-July to $9.50 in mid-August.

The market has fallen by 30% since the high formed in August. DOT has momentarily swerved above the 100 and 50-day moving averages since the year started.

The trend-line that supported the bullish motion during July and August has broken. The price has found a support level at $6.50. The bearish pressure is expected to push through the support level.
Liquidity is resting at a lower price of $6.00. This is likely to be a magnet on price.

The DOT/BTC Chart

Critical Supply Zones: 0.000480, 0.000400
Critical Demand Zones: 0.000280, 0.000300

The DOT/BTC chart is also bearish, like the DOT/USD. DOT has been ranging after the bearish displacement from 0.000480 to 0.000280. Polkadot Price Analysis: DOT Continues to Crash Further Under the Weight of the Selling PressureA double top has formed on the daily chart. The break of the demand level at 0.0003 is expected to cause a bearish displacement.

You can purchase Lucky Block here.  Buy LBLOCK

NoteLearn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.