The crypto-verse has faced a number of bears unwilling to leave the market. Speckle [DOT], Dogecoin [DOGE], XRP and various assets suffered losses due to this strong downward momentum.
Speckle [DOT] only entered the crypto-verse about a year ago. Despite arriving relatively late, it managed to attract investors’ attention. The altcoin rose to the top ten and managed to soar in terms of price.
At the time of writing, DOT was trading for $ 12, down 1.84% over the past 24 hours. The altcoin suffered a loss of about 22% over the past seven days. This was relatively high compared to any other asset on the market. During the recent crypto rally, the altcoin managed to climb to a high of $ 49 but failed to hit $ 50.
Polkadot’s market cap was $ 11.6 billion. The altcoin lived on the edge as the ninth largest cryptocurrency. Binance USD [BUSD] wasn’t far from taking over from DOT.
Speckle [DOT] One hour price chart on Binance
DOT’s short-term price chart in Binance indicated the bull’s strong presence. The Bollinger Bands indicator did not work in favor of the altcoin as its bands were converging instead of diverging. This move also indicated limited volatility. The MACD line took over the signal line that confirmed the existence of the bull market. This bullish crossover was not very cheap as the above-mentioned indicator showed minimal volatility.
The Relative Strength Index [RSI] The indicator noted significant selling activity as the RSI marker was below the 50 median.
This positive notion could be great for Polakdot as it slipped several times.
In addition, the general market sentiment was negative. Bitcoin [BTC] struggled to make it over $ 32,000 and Ethereum [ETH] a similar fate befell when it drowned below the $ 2,000 mark. Similarly, several other prominent coins have been seen going off track and losing all accumulated profits.