Polkadot

<a href="https://optimisus.com/press-releases/subquery-network-launches-first-decentralized-rpcs-for-polkadot-and-kusama/" rel="noopener noreferrer nofollow">Polkadot (DOT),</a> a blockchain interoperability token, is facing a bearish outlook due to technical indicators and a downtrend.  
The token has dipped below the Ichimoku Cloud, signaling a clear downtrend, and both the conversion line and baseline of the Ichimoku indicator loom above the current price.  
Over the past two weeks, Polkadot has slipped to as low as $6.16, causing unease among investors. However, a potential saving grace may be found in the proximity to the lower Bollinger Band, which suggests oversold conditions.  
The next few days could be pivotal for Polkadot, with the $6.20 consolidation zone determining the course of the battles. If DOT can hold this ground, it could establish a base for a bullish reversal, especially if it breaches past the resistance at $6.30.  
However, a breach of this critical support level could lead to a demoralizing plunge towards $6.00 or lower if bears tighten their grip.

Polkadot (DOT) faces a bearish outlook

Optimisus

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