1. BITBILIHome
  2. Article

Polkadot price analysis: DOT crashes to $5 support after latest decline

• 22 views

TL;DR Breakdown

. Polkadot price declined 4 percent today
. Price dropped as low as $4.90
. DOT set to continue to test support at $5

Polkadot price analysis shows a continuation of the downtrend in place, as price dipped another 3 percent to fall as low as $4.90 over the past 24 hours. Having recovered back up to $4.99 at the time of writing, DOT has declined more than 10 percent since the start of June. Polkadot price is set to continue to test support at the $5 mark, whereas the immediate resistance point is set at $5.5 which was the high on May 28. Over the past 24 hours, DOT trading volume dropped slightly, indicating a bearish trend, whereas the token’s market capitalisation dropped 4 percent to $6,624,378,804.

The larger cryptocurrency market also continued to trend downwards, as Bitcoin dropped to $26,200 with a 3 percent decrement, and Ethereum declined in a similar way to move down to $1,800. Among leading Altcoins, Ripple lost 2 percent to move down to $0.51, while Cardano dropped a massive 9 percent to move as low as $0.32. Additionally, Dogecoin moved down to $0.06 with a 4 percent dip, whereas Solana dipped 8 percent to $18.71.

Screenshot 2023 06 07 at 11.07.51 PMPolkadot price analysis: DOT crashes to support after latest decline
Polkadot price analysis: Cryptocurrency heat map. Source: Coin360

Polkadot price analysis: 24-hour chart shows dominance of bearish indicators

On the 24-hour candlestick chart for Polkadot price analysis, price can be seen making a significant dip in moving down to $4.90 over the past 24 hours. With the current price being the lowest this year, DOT has faced continued bearish sentiment in the market. With the latest move downward, DOT price has fallen below the 9 and 21-day moving averages, as well as the crucial 50-day exponential moving average (EMA) at $5.24.

DOTUSDT 2023 06 07 23 12 22Polkadot price analysis: DOT crashes to support after latest decline
Polkadot price analysis: 24-hour chart. Source: Trading View

The 24-hour relative strength index (RSI) can be seen lowering well into the oversold region after dropping down to 36. Earlier, the RSI had picked up to the 46 mark, indicating greater market valuation for DOT. Meanwhile, the moving average convergence divergence (MACD) curve also shows a bearish divergence taking place as the trend line moved below the signal line over the past 24 hours.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Polkadot price analysis: DOT crashes to $5 support after latest decline

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年6月13日 05:07
Next 2023年6月13日 06:41

Related articles

  • Twitter ads are getting more and more peculiar

    TL;DR Breakdown Twitter is seeing a surge of peculiar ads from identical e-commerce platforms. Users have raised concerns about the quality and legality of products. Many of these ad accounts have been suspended. Description In the whirlpool of social media, Twitter has carved out a unique space. As a platform, it fosters connectivity, ideas, and even revolutions. But, like all digital landscapes, Twitter is not exempt from the pull of advertising, which, in recent times, has been morphing into increasingly peculiar forms. The curious case of odd Twitter advertisements … Read more In the whirlpool of social media, Twitter has carved out a unique space. As a platform, it fosters connectivity, ideas, and even revolutions. But, like all digital landscapes, Twitter is not exempt from the pull of advertising, which, in recent times, has been morphing into increasingly peculiar forms. The curious case of odd Twitter advertisements In a journey that feels akin to navigating through a digital reincarnation of the Betterware Catalogue, Twitter’s advertising terrain is dotted with promoted tweets from blue-tick accounts pushing everything from pet products to…

    Article 2023年7月10日

  • EU and Meta set to face ultimate online content test

    TL;DR Breakdown The European Union (EU) and Meta are set to perform a stress test in July on the EU’s Digital Services Act (DSA) concerning online content rules. The stress test is a response to EU industry chief Thierry Breton’s demand for Meta to address content targeting children on its platforms. The DSA restricts specific types of targeted ads on online platforms, including those targeting children or using personal data like ethnicity, political views, or sexual orientation. Description As we witness the digital world evolving at breakneck speed, pivotal players like Meta and institutions such as the European Union (EU) are preparing for what could be the ultimate litmus test of online content regulations. In July, the EU and Meta will come together for a comprehensive stress test, aiming to measure the robustness … Read more As we witness the digital world evolving at breakneck speed, pivotal players like Meta and institutions such as the European Union (EU) are preparing for what could be the ultimate litmus test of online content regulations. In July, the EU and Meta will come…

    Article 2023年6月28日

  • Nvidia CEO bullish on the future of AI as Q2 revenue skyrockets

    TL;DR Breakdown Nvidia CEO Jensen Huang is upbeat about the future of AI following a massive revenue recorded in Q2. The company is focusing on dominating the AI chip market. Description Computer chip manufacturer Nvidia has experienced a remarkable surge in its stock value, with shares soaring by nearly 10% during after-hours trading. This boost in stock price comes in response to the company’s Q2 earnings report, which not only exceeded Wall Street estimates but also showcased the surging demand for AI chips. Nvidia records a … Read more Computer chip manufacturer Nvidia has experienced a remarkable surge in its stock value, with shares soaring by nearly 10% during after-hours trading. This boost in stock price comes in response to the company’s Q2 earnings report, which not only exceeded Wall Street estimates but also showcased the surging demand for AI chips. Nvidia records a massive 88% revenue increase In the second quarter earnings report, the firm reported a staggering $13.5 billion in revenue, marking an impressive 88% increase from the previous quarter. This remarkable figure stood out as it exceeded…

    Article 2023年8月25日

  • US senators slam Meta’s ‘unrestrained’ AI release

    TL;DR Breakdown Two US senators, Richard Blumenthal, and Josh Hawley, have raised concerns about Meta chief executive Mark Zuckerberg and the tech giant’s “leaked” artificial intelligence model called LLaMA. They contended that Meta’s release of LLaMA lacked thorough consideration of the potential consequences, which they deemed a disservice to the public. While ChatGPT is programmed to reject certain requests, users have found ways to “jailbreak” the model and make it generate responses it would typically refuse. Two US senators, Richard Blumenthal, and Josh Hawley, have raised concerns about Meta chief executive Mark Zuckerberg and the tech giant’s “leaked” artificial intelligence model called LLaMA. The senators argue that LLaMA poses potential dangers and could be exploited for criminal activities. In a letter dated June 6, the senators criticized Zuckerberg’s decision to open source LLaMA and claimed that there were insufficient safeguards in Meta’s release of the AI model. While they acknowledged the benefits of open-source software, they contended that Meta’s release of LLaMA lacked thorough consideration of the potential consequences, which they deemed a disservice to the public. Initially, LLaMA had…

    Article 2023年6月11日

  • Prosecutors appeal bail decision for Terra founder amid allegations of market manipulation

    TL;DR Breakdown Kwon is accused of operating a fraudulent cryptocurrency firm in South Korea. Kwon and Han were apprehended at Podgorica airport in Montenegro, accused of trying to leave the country using counterfeit passports. The Montenegrin court charged them with forging travel documents. The prosecutors in Montenegro have appealed against a local court’s decision that granted bail to Kwon Do-hyeong, the founder of Terraform Labs, and his associate Han Chang-joon. During the hearing, accusations were made against Do Kwon, the founder of Terraform Labs, stating that he operated and organized a fraudulent cryptocurrency firm in South Korea and the United States (U.S.). As a result of these actions, the firm’s TerraUSD and Luna coins experienced a collapse. On March 23, authorities apprehended Kwon and Han, Terra’s former chief financial officer, at Podgorica airport in Montenegro. They were accused of trying to leave the country using counterfeit passports and were subject to an Interpol Red Notice, which urged law enforcement agencies to arrest them. On April 21, the Montenegrin court formally charged both South Korean individuals with the offense of forging…

    Article 2023年5月19日
TOP