POLKADOT Price Analysis 10-13: Polkadot Endures Yet Another Bearish Week
Polkadot ($DOT) survived another bearish week after failing to push above $5 at the end of September. $DOT battled to stay above $4 this week, briefly dropping below $4 on several occasions.
$DOT is down 1.93% over the past day after a tumultuous week saw the altcoin battle to stay above $4.
Polkadot ($DOT) Fights to Stay Above $4
Polkadot ($DOT) endured another bearish week since failing to break through $5 at the end of September. $DOT began in the red in October, and this trend continued as sellers dragged $DOT below the 20- and 50-day SMA and its critical support levels. The altcoin began the previous week with a dramatic 7% decline, followed by a further 6.3% on Tuesday.
On Wednesday, $DOT dropped to $4, eventually reaching a low of $3.99 on Thursday. $DOT recovered slightly on Thursday, settling the day at $4.13. $DOT continued to climb higher on Friday with a 1.45% increase, pushing the price to $4.19. Sellers, however, took control on Saturday, with $DOT dropping by 1.19%. $DOT slightly recovered on Sunday with a 1.21% increase, moving it to $4.19.
$DOT Spends Another Week in the Red
After closing the previous week on a positive note, $DOT could not continue with its momentum. Buyers tried to push $DOT toward $4.50 on Monday after reaching a day high of $4.27. The upward momentum was short-lived, allowing sellers to step back in. $DOT eventually dropped 1.43%, closing the session at $4.13. Market volatility on Tuesday saw buyers and sellers struggle to control the session. Sellers managed to gain control, and $DOT dropped by 0.73% to $4.10. Bearish sentiment continued on Wednesday, resulting in $DOT falling below its crucial $4 support level and briefly falling to a low of $3.95. Buyers, however, pushed $DOT above $4, eventually closing the session at $4.02. $DOT dropped below $4 on Thursday, but buyers could push the price to $4.08, thanks to strong support at this level. Buyers continued their control on Friday, with $DOT registering a 2.21% increase, pushing the price to $4.17. $DOT gained a further 0.91% on Saturday to close the session at $4.20.
The current session sees $DOT back in the red, falling 1.81% to trade at $4.13.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Text source: Crypto Daily™
