As a seasoned researcher with years of experience in the cryptocurrency market, I must admit that watching Polkadot ($DOT) slide below its crucial trading level of $5.00 is quite disheartening. Over the past week, it’s been a rollercoaster ride for $DOT, with severe selling pressure keeping the price down.
In the last seven days, Polkadot‘s value, represented by DOT, has decreased nearly 15%. This dip has caused it to fall below a significant trading threshold of $5.00. Currently, at the moment of writing, each DOT is being traded for approximately $4.85.
Buyers were unable to take control of Polkadot ($DOT), sending the coin down below its critical $5.00 trading level.
Polkadot ($DOT) Unable to Stay Above $5.00
Regrettably, Polkadot’s price trend remained bearish, following a week of similar movement. Over the last seven days, the price of Polkadot ($DOT) has dropped by nearly 15%. Despite attempts by the bulls, they were unable to gain control over the market.
As a crypto investor, I’ve been grappling with a sustained selling pressure on Polkadot ($DOT) that’s persisted over a week now. This intense pressure has caused the value of my $DOT holdings to dip below the significant trading level of $5.00, and currently, it’s trading at $4.85.
Over the last week, a continuous negative trend for Polkadot caused its price to plummet, initiating on Saturday and driving DOT under $5.50. The digital currency continued to decline all week, with a 1.05% dip on Monday and a 2.30% fall on Tuesday, ending the day at $5.53. On Wednesday, another steep drop of 2.53% occurred, pushing DOT’s price beneath $5.50 again, closing the session at $5.39.
On Thursday, the price of $DOT dipped down to a minimum of $5.02, but robust demand at that level encouraged buyers to push it back up, closing at $5.34 by Friday. Regrettably, $DOT was unable to sustain this progress, ending the day on Saturday at $5.01.
The current session sees $DOT down 5.27% to trade for an unfavourable $4.85.
Strong Demand for $DOT at $5
As a seasoned researcher with years of experience in the crypto market, I have witnessed numerous price movements and trends. This week, I observed Polkadot ($DOT) bouncing back twice from $5, suggesting robust support at this level. However, the momentum among buyers seems to be waning as demand for $DOT at higher levels appears to be dwindling. To reignite demand, we need to see $DOT surpassing $5.50. I have learned that market trends can change swiftly, so it’s essential to stay vigilant and adapt strategies accordingly.
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2024-08-04 19:11