• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

Recession Incoming? The US Economy Can’t Hide It Anymore!

2025-05-04

Satoshi’s Secret Cure For Spam?

2025-05-03

Altcoins Got Wiped Out in Q1 2025—Is Recovery Even Possible?

2025-05-03

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What is a Layer-1 (L1) Blockchain? L1 Problems & Future

    2025-05-03

    What is a Layer-2 (L2) Blockchain Solution? Types & Problems They Solve

    2025-05-02

    What Is a Layer-0 Blockchain Protocol?

    2025-05-02

    What They Are and What They Are For

    2025-04-17

    What It is & Why it Matters

    2025-04-16
  • Videos

    Recession Incoming? The US Economy Can’t Hide It Anymore!

    2025-05-04

    Satoshi’s Secret Cure For Spam?

    2025-05-03

    Altcoins Got Wiped Out in Q1 2025—Is Recovery Even Possible?

    2025-05-03

    ISO 20022 Cryptos: XRP, ADA, ALGO, XLM — Don’t Miss This Wave!

    2025-05-02

    Oil vs Gold vs Bitcoin: 5 Year Investment Returns

    2025-05-01
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»Analysis»Polkadot (DOT) Bulls Retreat As Bears Drag The Price Down
Analysis

Polkadot (DOT) Bulls Retreat As Bears Drag The Price Down

2023-05-24No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Polkadot (DOT) is in the red today as the bears seek to regain control over its price. DOT traded at $4.37 on January 1, 2023, and increased to $5.13 on January 11.  

It remained within this range before moving to $6.23 on January 20. Also, DOT increased to the $7 price level on February 17 as the bulls seized control of its price.

However, a gradual bearish turn between March and April forced it back to $5, where it currently trades today. 

Polkadot Price Prediction Today Are The Bears In Control?

DOT is trading in a sideways trend forming a red candle on the daily chart. It is below its 50-day and 200-day Simple Moving Averages (SMA), with bearish sentiment in the short and long term.

Related Reading: Santiment Explains How Bitcoin Investor Mentality Influenced Recent Price Action

The SMA calculates an asset’s average price over a specified period and helps predict trend direction. If the bears persist, DOT’s 50-day SMA, which is about to drop below its 200-day SMA, will form a death cross. Also, the Relative Strength Index (RSI) is 40.73 and in the neutral zone. The RSI is a trend-based indicator.

DOT’s RSI is moving downwards, hinting at further price decline to the oversold region before a trend reversal.  The cryptocurrency’s Moving Average Convergence/Divergence (MACD) is slightly above its signal line and shows convergence. 

Also, the MACD – a trend momentum indicator that displays the relationship between two exponential moving averages (EMAs) and an asset’s price, displays a negative value conforming to the bearish trend today. The green histogram bars are fading, indicating a changing trend direction. 

See also  BTC Infinite Money Glitch💰📈+ $MSTR Price thru 2035

DOT’s technical indicators all hint at the possibility of further price decline for the asset. It is close to the $5.29 support level as the bears at the $5.42 resistance continue to act on its price, forcing a decline.

Polkadot (DOT) Bulls Retreat As Bears Take The Price Down
DOT continues the downward trend l DOTUSDT on Tradingview.com

DOT has remained in a sideways trend for the last few days and further price decline remains a possibility. However, if the bulls rally again, the $5.42 resistance level will be a realistic target before the $6 psychological resistance level.  

The altcoin will likely enter a downtrend if the bears maintain the pressure today. But one thing that offers the possibility of a bullish reversal is the upcoming ‘Polkadot Decoded 2023’ event in June. 

Polkadot Decoded 2023 Might Boost DOT’s Performance

Polkadot is hosting a community event, ‘Polkadot Decoded 2023’, between June 28-29 in Copenhagen, Denmark. This event will assemble the Polkadot community in progressive talks anchored by over 100 quality speakers in the crypto community. Also, developers will benefit from interactive and practical sessions based on Polkadot’s technology.

Free virtual tickets are currently available for the wider crypto community around the globe to stream the event online.

Featured image from pIxabay and chart from Tradingview.com

Bears Bulls DOT Drag Polkadot Price Retreat
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin’s Decentralized Price (UTXOracle)

2025-04-28

$TRUMP TO $25?! WILL TRUMP COIN PUMP SOON?! $TRUMP PRICE PREDICTION

2025-04-09

$TRUMP COIN IS PUMPING AGAIN!! BUY $TRUMP NOW?! $TRUMP PRICE PREDICTION

2025-04-08

WILL BRETT FLIP TOSHI?! BUY BRETT NOW!? BASED BRETT PRICE PREDICTION

2025-04-08
Add A Comment

Leave A Reply Cancel Reply

Top Posts
DeFi

Bitcoin Will Power the Next DeFi Summer

2024-04-19

In 2023, we said goodbye to Crypto Winter. Now, it’s time to say hello to…

Videos

Bitcoin Under Attack By These Men…

2024-04-25

Today, let’s examine Bitcoin and discuss what Fed Chair Powell and SEC Chair Gary Gensler…

Videos

🔮IA Bitcoin Price Prediction in 11 Days!💰

2024-02-12

Bitcoin #ETF #Breakout #50K #History #OnChain #Hash #top10 JOIN THE FAMILY: http://www.patreon.com/investanswers …

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

Recession Incoming? The US Economy Can’t Hide It Anymore!

2025-05-04

Satoshi’s Secret Cure For Spam?

2025-05-03

Altcoins Got Wiped Out in Q1 2025—Is Recovery Even Possible?

2025-05-03

What is a Layer-1 (L1) Blockchain? L1 Problems & Future

2025-05-03
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 94,613.35
ethereum
Ethereum (ETH) $ 1,771.70
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.12
bnb
BNB (BNB) $ 598.53
solana
Solana (SOL) $ 144.05
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.168236
cardano
Cardano (ADA) $ 0.658087
tron
TRON (TRX) $ 0.244259
bitcoin
Bitcoin (BTC) $ 94,613.35
ethereum
Ethereum (ETH) $ 1,771.70
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.12
bnb
BNB (BNB) $ 598.53
solana
Solana (SOL) $ 144.05
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.168236
cardano
Cardano (ADA) $ 0.658087
tron
TRON (TRX) $ 0.244259