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NewsBTC 2022-05-23 01:00:44

Polkadot (DOT) Trades Beneath $11; How Soon Will It Target $14?

Polkadot (DOT) has held itself for sometime at the current price level. The consistent downslide of major market movers have pushed many altcoins near their immediate support and below their nearest resistance levels. Recent market conditions have been quite harsh for investors. The returns have been questionable. Polkadot (DOT) has witnessed a sharp fall in buying strength owing to the same bearish condition of the market. The coin has been in the limelight in the recent times due to the latest development. These developments are related to interoperability and features of multi-chain which was announced in the middle of this month. These activities have helped buyers to enter the market. Selling pressure however, continue to outpower buying pressure in the market. Polkadot now has an ecosystem which is consistently striving to bring new projects through para-chain auctions. It is still uncertain if over the upcoming trading sessions that coin can maintain its price action and touch its immediate resistance mark. Polkadot Price Analysis: One Day Chart The altcoin was priced at $10 at the time of writing and after several rejections from the $11 level. Nearest support level for the altcoin stood at $8 and a fall beneath that could land DOT near $6.26. Over the last 48 hours, DOT broke below its 10 month long support line. In the past 24 hours, the coin tried to move northwards but the bulls have tired out. The lack of buyers h...

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