Polkadot price analysis: DOT declines to $5.30 after a strong bearish influence

Polkadot price analysis for today indicates that the currency has been facing a strong bullish influence in recent days, pushing prices up. However, at the time of writing, there has been a significant pullback in prices, with DOT declining to $5.30 on the market.

Timeline of Polkadot-new

A popular crypto analyst is updating his predictions on a handful of altcoins amid the ongoing bear market. Pseudonymous trader Altcoin Psycho tells his 10,700 YouTube subscribers that XRP, Polygon (MATIC), Chainlink (LINK), Chiliz (CHZ) and Polkadot (DOT) could plummet by 25-50% if Bitcoin's (BTC) price takes another big leg down.

Polkadot-based blockchain interoperability protocol t3rn has raised $6.5 million in a round led by Polychain Capital. The post Polkadot-based protocol t3rn raises $6.5 million: Exclusive appeared first on The Block.

Polkadot price analysis confirms an increasing trend for cryptocurrency today as the coin value has increased tremendously, reaching above $5.45, the resistance level for DOT/USD is at $5.51 and the support level is at $5.33.

With the use of relationships with parachains, Polkadot will be able to expand its ecosystem's capabilities and reach new heights. Moonbeam Network and its subsidiary, Moon River, have joined forces with Bifrost recently.

The Polkadot price analysis is on the bullish side today. Bulls have taken the price up to $5.38 today, after a continuous decline for the past two days, which was expected after hitting the all-time high at $7.35 on November 8th.

An uptick in new user accounts on Polkadot has lent weight to the suggestion that the era of centralization in crypto is finally coming to an end.  New analysis from Dot Insights shows there has been a big jump in on-chain activity on Polkadot.

Certainly a welcome change for those who work in crypto. Despite widespread doom and gloom, Polkadot native coin, DOT, has become the most discussed cryptocurrency in the community.

Polkadot price analysis shows a bearish trend for the cryptocurrency as the bears have been at the winning edge for the last 24 hours. Although a strong bullish wave controlled the price trend in the previous week, today's trend proved relatively in support of the sellers.

Polkadot topped the list of blockchains in terms of development activity However, DOT's metrics and indicators didn't seem to favor its growth Polkadot [DOT] recently made headlines as DOT topped the list of tokens in the Polkadot ecosystem in terms of social activity.

Polkadot price analysis continues to show bearish reading as price fails to recover from the distinct decline initiated on November 8. DOT dropped down to a 52-week low of $5.36 over the past 24 hours, as the downward descent deepened to strengthen the bearish outlook.