CandleFocus Polkadot Faces Key Support Test as Bears Extend Market Control
2025-03-10
Author: Content Editor
Polkadot (DOT) has experienced a significant decline in the past 24 hours, dropping by 4.38% and losing 7.99% over the past week. Analysts suggest that the asset's decline is testing key support levels, which will determine its next move. The price of Polkadot is approaching a vital support level at $3.80, and if this level is held, it could trigger a strong price rebound towards $6.40 or even $10.80. However, failing to defend the $3.80 mark could cause the price to drop to $2.30. The trading volume for DOT has decreased by 50% in the last 24 hours, indicating declining market pressure. The Relative Strength Index (RSI) shows signs of overselling, suggesting a potential price bounce in the future. Despite its declining performance, Polkadot remains one of the top 30 cryptocurrencies with a market value of $6.72 billion. The market will closely monitor how Polkadot performs at the $3.80 support area to determine its next price trajectory.
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