Analyzing if DOT bulls can clinch near-term gains before a pullback

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Like most coins, Polkadot DOT has been on a persistent decline over the last few months.

Timeline of Polkadot-new

Polkadot price analysis remains heavily dominated by bears, as price lowered more than 4 percent today to move as low as $6.73. DOT has been subject to a severe downtrend along with the larger cryptocurrency market, shipping more than 25 percent in price since June 7, 2022.

Polkadot price analysis shows the market is still in a bearish trend as prices have not been able to move sustainably above the $7.00 level. The next area of support is around the $6.61 level where the price has found some buyers in recent days.

Polkadot price analysis shows an extremely bearish market trend as the price began trading in a sloping channel. Within the last 24-hours, DOT prices have declined by 11.26 percent and are currently trading at $7.64.

As the rest of the cryptocurrency market traded flat during trading hours on 10 June, Polkadot (DOT) saw some growth in its price. The DOT token registered an intraday high of 5% during trading hours.

Today's Polkadot price analysis reveals the prices are on a prevailing downtrend that has been seen since yesterday's market rally. The 5.37 percent drop in prices has taken DOT down to $8.59 from the intraday high of $9.11 that was seen yesterday.

The price of Polkadot (DOT) is in a downward correction as the altcoin consolidates above $8.00 support. Currently, the current support has been holding since May 12. On June 7, the altcoin resumed trading between $8.90 and $9.40.

Polkadot price analysis shows that the digital asset is currently in a consolidation phase after a sharp sell-off from highs of $9.68.The digital asset fell to lows of $8.9 before finding support and bouncing off slightly. The market is currently trading at $9.1 and is up by 0.88 percent in the last 24 hours according.

Polkadot price analysis shows a bullish trend after prices opened the daily trading session at $8.96 on June 6. Following a few hours of sideways trading, prices started to move higher and reached the $9.71 mark at the time of writing.

Polkadot price analysis shows that the bulls have taken control of the market in the short term as DOT steps closer to the $9.35 mark. The coin is facing resistance at $9.48, but if it can break above this level, we could see further upside potential towards $9.90 and possibly even $10.

DOT reaches $9.30 price level but it noted a fall in price over the past few days and a continuous dip in price so, can it manage to shift in trend soon? Let's find out in today's latest altcoin news.