The post Polkadot Price Analysis: DOT Manages To Stay Above Crucial Support Level appeared on BitcoinEthereumNews.com.

The Polkadot (DOT) price managed to stay above $6.40 over the weekend after enduring a highly bearish end to the week, during which sellers managed to push the price below $7. DOT registered a drop of almost 7% on Friday, falling as low as $6.01 before settling at $6.66. Polkadot (DOT) Stays Above Crucial Level Polkadot (DOT) managed to stay above $6.40, a crucial support level, as buyers pushed the price up by 2.35% on Sunday. Despite starting the week on a positive note, DOT was extremely bearish last week. On a highly volatile Monday, DOT went as high as $7.19 before dropping to $7.01, registering an increase of just 0.29%. At this point, DOT was able to stay above $7, a level where it had support. DOT built on this support on Tuesday, rising by 2.41% and moving to $7.17. An increase of 1.06% saw DOT rise to $7.25 on Wednesday. However, this is where things changed for DOT. With the 20-day SMA acting as resistance at this level, DOT could not go higher and dropped by 1.57% to $7.13. Selling pressure intensified on Friday as sellers took control of the market, pushing DOT down by almost 7% to $6.66. However, Friday also saw DOT go as low as $6.06 before recovering. This drop saw the price fall below the 50-day SMA and the crucial $7 level. DOT also entered the weekend in the red, dropping by just over 4% to $6.38. However, DOT had strong support at this level, and with buyers entering the market on Sunday, it registered an increase of 2.18% to $6.52. The current session sees DOT back in the red, with selling pressure having pushed the price down to $6.45 at the time of writing. What Next For Polkadot (DOT) Let’s look at the…

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Filed under: News - @ June 11, 2024 7:26 am