Moonriver

Astar

Polkadot

Moonbeam

Karura

<div class="coinjournal"> 
 <ul> 
  <li dir="ltr"> <p dir="ltr">Polkadot’s DOT token has been in a strong bearish trend in the past few months.</p> </li> 
  <li dir="ltr"> <p dir="ltr">There are concerns about the network’s ecosystem as activity slows.</p> </li> 
  <li dir="ltr"> <p dir="ltr">Circle has now integrated USDC into its ecosystem.</p> </li> 
 </ul> 
 <p dir="ltr"><u>Polkadot</u> <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> has been in a strong bearish trend in the past few months amid rising concerns about the ecosystem. DOT token plunged to a low of $3.90 last week, down by more than 50% below the highest level this year. It has underperformed other popular coins like Bitcoin, Tron, and Ethereum.</p> 
 <h2 dir="ltr" id="polkadot-ecosystem-woes">Polkadot ecosystem woes</h2> 
 <p dir="ltr">Polkadot is one of the leading players in the blockchain industry. Developed by an Ethereum co-founder, the platform makes it possible for creators to build parachains that are interconnected with other chains. Parachains are independent layer-1 blockchains that transcend limitations of other chains.</p> 
 <p dir="ltr">Over the years, many developers have won parachain slots in Polkadot’s ecosystem. Some of the most popular Polkadot parachains are Moonbeam, Clover Finance, Efinity, Litentry, Astar, and Phala Network.</p> 
 <p dir="ltr">The challenge for Polkadot is that most of its successful parachains have struggled to gain traction in the past few months. A good way to look at this is its DeFi ecosystem. A look at DeFi Llama shows that Moonbeam is its biggest player in DeFi with a&nbsp;<u>TVL</u> of just $52.4 million.&nbsp;</p> 
 <p dir="ltr">Moonriver is the 75th network with just $8 million. Other networks like Astar and Karura have $44 million and $8 million, respectively. Therefore, the network needs to see more activity in the ecosystem.</p> 
 <p dir="ltr">The most recent Polkadot news was that Circle decided to add USDC in Polkadot Asset Hub. This is an important move since USDC is the second-biggest stablecoin in the world with over $26 billion in market cap. The statement&nbsp;<u>added</u>:</p> 
 <p dir="ltr">“Polkadot USDC is the official form of USDC for the Polkadot ecosystem, providing developers and users with access to a fully reserved, dollar-backed stablecoin that’s always redeemable 1:1 for US dollars.”</p> 
 <h2 dir="ltr" id="polkadot-price-forecast">Polkadot price forecast</h2> 
 <p><img decoding="async" src="https://cdn.thebittimes.com/images/2023/09/20/518648b2f36aa0e13b75f53518795eb6.webp" style="width: 100%;height: 301.6px" class="fr-fic fr-dib" width="624" height="301.6"></p> 
 <p dir="ltr">The daily chart shows that the Polkadot <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> has been in a strong bearish trend in the past few months. This decline saw it drop below the important support at $4.21, the lowest level in June and December 2022. It has also retested this level, which is a sign of a bearish continuation</p> 
 <p dir="ltr">Polkadot has remained below the 50-day moving average. It has also formed an inverted cup and handle <a rel="noopener noreferrer nofollow" title="pattern" href="https://thebittimes.com/tag/pattern.html">pattern</a>. Therefore, there is a likelihood that the coin will continue falling as sellers target the key support at $3.70. A move above the key resistance at $4.50 will invalidate the bearish view.</p> 
 <h2 dir="ltr" id="how-to-buy-polkadot">How to buy Polkadot</h2> 
 <p dir="ltr"> </p> 
 <div class="relative"> 
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   <p class="text-sm">eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.</p> 
   <div class="w-full  flex  flex-wrap  items-start  flex-col  gap-2">
     Buy DOT with eToro today 
   </div> 
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 </div> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/polkadot-price-prediction-break-and-retest-pattern-forms-tbt63372.html">https://thebittimes.com/polkadot-price-prediction-break-and-retest-pattern-forms-tbt63372.html</a></p>

Polkadot price prediction: Break and retest pattern forms

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