Polkadot price analysis: DOT declines 9 percent as seller pressure increases

Polkadot price analysis has turned bearish today, as price dropped more than 9 percent over the past 24 hours. DOT seemed to be targeting the $10 resistance after embarking on a strong bull run that initiated on July 26, 2022.

Timeline of Polkadot-new

The Polkadot price analysis indicates profit booking at a higher level. However, the correction from the higher levels was due following from an extended uprend that took price to $9.20.

Web3 Foundation, the organization responsible for doling out grants on Polkadot, has passed the milestone of 400 approved projects. The post Web3 Foundation passes 400 project grants on Polkadot appeared first on CryptoSlate.

Polkadot rises 4% and sets eyes on the $9 price range while in the past week, DOT remained optimistic and registered a 7% increase in value so let's read more today in our latest cryptocurrency news.

Polkadot price analysis remains largely bullish following from an extended uptrend that took price as high as $8.84 yesterday. However, DOT has lost over 4 percent in price since then over the past 24 hours.

DOT just concluded the week with an impressive bullish rally, one which has allowed it to retest previous resistance levels. In fact, the same seemed to be in line with how most other cryptos have done lately.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. For over eight months, Polkadot [DOT] has been struggling to bring forth a change in the long-term bearish narrative.

Filecoin was one of Saturday's biggest gainers, as prices rose by as much 24% to start the weekend. The move saw the token reach its highest point since early June, and comes despite cryptos being mostly in the red in today's session. DOT was also higher, as it too hit a multi-week high.

Recent Polkadot price analysis shows that cryptocurrency has been on a bullish trend for the last 24 hours. After breaking out of the symmetrical triangle pattern, DOT/USD prices soared to new all-time highs at $8.50.

Today's Polkadot price analysis reveals the price movement is in the bullish direction. However, the price underwent a decline during the last four hours, despite breaking upwards today.

Polkadot price analysis today shows that the DOT/USD pair continues to rise higher after yesterday's bullish breakout. The pair has reached a new all-time high of $6.86 and is currently trading at the $6.83 mark.