The post Polkadot Price Analysis: DOT Battles To Stay Above $7 appeared on BitcoinEthereumNews.com.

Polkadot (DOT) is battling to stay above $7 after a weekend dominated by sellers. The price dropped to $6.93 on Sunday after considerable gains during the previous week.  Polkadot (DOT) had a fairly strong showing during the previous week, rising by 6,58% over the past seven days.  Polkadot (DOT) Drops Below $7 After Strong Week  After a strong week, Polkadot (DOT) fell back into the red over the weekend, slipping back below the crucial $7 mark. DOT started the previous week with a highly volatile day that saw the price go as high as $6.82 and as low as $6.43 before settling at $6.67. Tuesday saw sellers push the price significantly lower, dropping DOT by 2.83% to $6.48. However, as seen in the price chart, DOT has strong support at $6.40, and the following session saw the price soar by 7.44% and go past the 20-day SMA and settle at $6.96. However, it was unable to move past the $7 mark. DOT did go past $7 on Thursday in yet another volatile session that saw sellers push the price down to $6.82 before it recovered and settled at $7.03. Friday saw buyers tighten their grip on the market, with DOT registering an increase of 2.42% and settling at $7.20. However, bears were able to reverse the bullish momentum over the weekend, pushing DOT down marginally on Saturday. The selling pressure intensified on Sunday, with DOT dropping below the 20-day SMA to $6.93. While many expected the 20-day SMA to act as a level of support for DOT, sellers were easily able to breach this level.  The current session sees DOT at $7 as buyers look to reestablish control and push DOT back above $7.  Is Polkadot (DOT) Following A Similar Pattern? As we can see in the price chart above,…

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Filed under: News - @ May 21, 2024 9:26 am