Polkadot Under Strong Bearish Influence , Will The Nearest Support Level Hold?

Polkadot continues to face downtrend on its chart as broader market strength also remained low. Over the last 24 hours, DOT lost close to 8% of its market value invalidating weekly gains that DOT secured.

Timeline of Polkadot-new

A popular crypto analyst is identifying what could help leading Ethereum rival Polkadot (DOT) recapture its all-time high. In a new video, Coin Bureau host Guy tells his 2.07 million subscribers the reasons for DOT's poor price performance. “First is the fact that the rest of the crypto market has been getting wrecked, notably [Bitcoin] The post Here's What's Needed for Leading Ethereum Rival To Surge by 700% and Reclaim All-Time High: Coin Bureau Host appeared first on The Daily Hodl.

Gavin Wood, Polkadot's founder, announced the new governance structure at the Polkadot Decoded 2022 conference. The new model seeks to promote inclusion and decentralization while expanding the number of decisions that Polkadot governance may make.

Polkadot price analysis continues to show bearish signs, as price recorded a 5 percent decline over the past 24 hours. The current decline has been in place since June 25, 2022, with price declining more than 10 percent since.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Polkadot has been on a higher timeframe downtrend.

Polkadot has announced a new version of its governance system called Governance version 2 (or Gov2).  The post Polkadot to scrap its ‘Council' body in new governance system appeared first on The Block.

Polkadot price analysis shows extremely bearish signs, as price continued to decline for a fourth consecutive day. DOT dipped more than 5 percent to as low as $7.45 today, with trading volume rising 15 percent to show complete seller dominance in the market.

Polkadot‘s price amid the uncertain market sentiments has been largely impacted as the asset fails to gain bullish momentum. The recent rejection has dragged the price below the crucial trend line which was assisting the price to maintain a significant uptrend for the past week. Therefore, the upcoming trend is believed to be pretty bearish …

The prices of most cryptocurrencies have dipped, and even the best digital assets have lost at least 50% of their total value. When you look at the crypto crash of 2022, it's easy to get discouraged from dealing with cryptocurrencies or trading them.

The price of Polkadot (DOT) is in a downtrend, but buyers are trying to break the 21-day line SMA. Today, the cryptocurrency is trading at $8.12, but it is restricted by the 21-day line SMA. The altcoin will rise to $9.80 if the bulls break the 21-day line SMA.

Today's Polkadot price analysis shows that the DOT/USD pair is trading in a bullish trend above the $8.00 level. The recent high was at $8.36, and the price has corrected below $8.30.