DOT/USD Slumps Heavily Below $7.0 Level

The Polkadot price prediction is down at 12.10% at the time of writing as the coin goes below the opening price of $7.11.

Polkadot Prediction Statistics Data:

• Polkadot price now – $6.25
• Polkadot market cap – $7 billion
• Polkadot circulating supply – 1.1 billion
• Polkadot total supply – 1.2 billion
• Polkadot Coinmarketcap ranking – #12

DOT/USD Market

Key Levels:

Resistance levels: $8.0, $8.5, $9.0

Support levels: $5.5, $5.0, $4.5

DOT/USD breaks below $7.0 after an unsuccessful attempt to settle above the upper boundary of the channel as the coin touches the daily low at $5.86. The Polkadot price is changing hands at $6.25, down 12.10%, the bears are now keeping the market price on the negative side; hoping to touch the nearest support at $6.0.

Polkadot Price Prediction: Can Polkadot Price Slides $5.5?

The Polkadot price is currently heading to the south, but according to the daily chart, a break above the upper boundary of the channel could give the coin a boost towards the important resistance at $8.0, $8.5, and $9.0 levels. On the other hand, the technical indicator Relative Strength Index (14) has a bearish feel as the signal line crosses below the 50-level.

Meanwhile, if the coin moves toward the lower boundary of the channel, the Polkadot price could create more downtrends. However, the market price may follow the bearish movement and the critical support levels could be found at $5.5, $5.0, and $4.5.

Against Bitcoin, the bears are making effort to step back into the market while the coin is showing some negative signs that could make lower lows if the price crosses below the 9-day and 21-day moving averages. On the downside, the nearest level of support lies at 3100 SAT and below.

Looking from the upside, the nearest resistance level could be found above the upper boundary of the channel, above this, further resistance lies at 3700 SAT and above. The technical indicator Relative Strength Index (14) is likely to cross below the 60-level which indicates that more bearish signals may come to focus.

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