The cryptocurrency Polkadot (DOT) is currently facing selling pressure after a failed recovery attempt. Its price is slipping towards a crucial support level at $3.5, and if this support fails, it could lead to further losses, potentially reaching as low as $1.9. Technical indicators suggest bearish momentum, with DOT trading below its 100-day Simple Moving Average and the Relative Strength Index indicating growing selling pressure. However, if the bulls can defend the $3.5 support, there is a chance for a rebound towards the $4.8 resistance level. Traders are advised to closely monitor the $3.5 level for potential market sentiment shifts. The next move by Polkadot will have a significant impact on its short-term performance, with a bounce giving hope to bulls and a failure leading to a deeper decline.



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