Polkadot [DOT] – What to expect now that the $7 level is re-tested once again

Polkadot DOT just concluded one of the crypto-market's most volatile weeks with a retest of support near the $7-price level. This strong support has so far prevented DOT from seeking as much downside as most top cryptocurrencies.

Timeline of Polkadot-new

Disclaimer: The findings of the following analysis are the sole opinions of the writer and shouldn't be considered investment advice Polkadot [DOT] has steadily descended over the last few months. During this phase, the six-week trendline resistance (white, dashed) has curbed recent bullish revival attempts.

Polkadot price analysis suggests an upwards movement to $8.25 The closest support level lies at $7.00 DOT faces resistance at the $7.75 mark The Polkadot price analysis shows that DOT has recovered to the $7.00 mark as the bulls were able to defend the $6.50 support level. At press time, the buying pressure.

The Polkadot price analysis shows bears have extended their rule, as a strong correction in DOT price is observed today. The strong support at $7.3 has crashed today as market pressure continues, and the trading volume has dropped significantly, leaving DOT looking for newer support levels below the $7 level.

On June 13, Polkadot (DOT) fell and retested the previous low of $7.18 and retreated. After retesting the previous low, the bears are eager to break it. The bulls defended the support of $7.18 last month.

Polkadot price analysis shows that the market is currently in a bearish trend as prices have declined by 11.26 percent in the last 24 hours. The current outlook for DOT is $7.62, which is a bearish outlook.

The Polkadot price analysis reveals that a drop in price has been observed today, which is why the market is now following a bearish trend. The cryptocurrency is covering a downwards range as the bears have been able to stop the price from going above $8.49.

Thanks to the latest integration of Chainlink oracle into the Moonbeam smart contract platform, developers in the broader Polkadot ecosystem can now access reliable price feeds as they seek to build functional DApps

As other altcoins suffered severe decimation to their prices during intraday trading on 14 June Polkadot's native token, DOT, saw some relief. The token recorded an uptick in price which was lost by the end of the day.

Polkadot price analysis reveals a relatively bearish approach today; the price has lost some of its value. In the last few days, the price of DOT has received much negative attention and has decreased to a significant degree.

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.