Polkadot (DOT)is an ambitious project that seeks to provide a platform combining various blockchain networks into one ecosystem. The primary goal is to bridge together independent networks, allowing interoperability. The price movement of Polkadot (DOT) has been volatile as the bulls and bears have been in a tug-of-war for the trading period. Despite the efforts of the bulls, the bears have gained ground and are pushing the price towards an uptrend. Currently, DOT is trading at $3.34, increasing by 0.17%.

The volume per market cap ratio is 0.024, showing a rise in volume and a decreased short-selling pressure. This rise in volume has been a result of the bullish dominance, with the Relative Strength Index (RSI) approaching the overbought territory. This data is supported by the positive crossover by the MACD and MACD indicators, which shows a possible bullish continuation for the price in the near future.

The major levels of support and resistance for the Polkadot price are $6.06 and $4.25 being the supports while $6.68 and $7.67 are the resistance. It is important to pay attention to these support/resistance levels as they can showcase if the bulls can take over the trade or if the bears will win the fight.

Further analysis of the trading activity confirms that the bulls are still present and are pulling the strings to move the price into the desired range. However, it should also be noted that the negative trend could begin soon, and the bears will join in and reverse the postive trend. Therefore, the bulls must act quickly and avoid letting the DOT lose its potential. Nevertheless, it is important for investors to remember that trading with crypto assets comes with a certain amount of financial risk, and considerations should be taken.



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