Polkadot Worth Evaluation: DOT Checks $ 13 Stage As Resistance, Subsequent Transferring In direction of $ 10.5? | Kryptopolitan – Kryptopolitan
TL; DR breakdown
- DOT slowly moved towards the USD 13 resistance overnight.
- Bears start pushing DOT back down.
- Next target at $ 10.5.
Polkadot price analysis is bearish for the next 24 hours as the market pulled back yesterday and found resistance around the $ 13 mark. From then on, XRP / USD pushed down again as the bears target the USD 10.5 mark next.
Cryptocurrency heat map. Source: Coin360
The cryptocurrency market has traded in the red for the past 24 hours. Bitcoin is down 2.2 percent while DOTereum is down 5.34 percent. Dogecoin (DOGE) and Binance Coin (BNB) are among the worst with a loss of 7 percent.
Polkadot Price Movement Over The Last 24 Hours: Polkadot tests $ 13 as resistance
DOT was hovering in a range of $ 11.36 to $ 12.79, suggesting significant volatility over the past 24 hours. The trading volume increased by 13.44 percent and amounts to 813.3 billion US dollars. Meanwhile, the total market capitalization has dropped to 11.15 billion US dollars, which puts the cryptocurrency in 10th place overall.
DOT / USD 4-Hour Chart: DOT is on its way to $ 10.5 next
On the 4 hour chart, we can see that the polkadot price has started to fall in the past few hours as the bears target the $ 10.5 mark next.
DOT / USD 4 hour chart. Source: TradingView
The overall market structure is still sharply declining as another strong wave set in on July 7th after a rapid surge above the $ 17 mark. From then on, the USD 15 support was broken and DOT / USD posted a multi-day decline towards the previous major low of USD 13.
On July 16, DOT / USD broke below the $ 13 support and retested it as resistance yesterday. The DOT consolidated overnight, with a bearish momentum this morning.
Since then, the polkadot price has fallen, losing nearly 10 percent as the bears continue to push the market towards the $ 10.5 support.
Polkadot Price Analysis: Conclusion
Polkadot price analysis is bearish for the next 24 hours as the bears hit a significantly lower high at $ 13 resistance overnight. Currently, DOT / USD has already started moving down and is targeting the USD 10.5 support next.
While you wait for the DOT to go lower, check out our guides on DeFi Benefits, Bitcoin Fees, and What To Buy With Bitcoin.
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