bullish

Polkadot

<ul>
 <li>Polkadot struggles to break $5 resistance as sellers regain control.</li>  
 <li>&nbsp;DOT shows bullish signs but faces strong resistance at key levels.</li>  
 <li>Investors remain cautious as the battle between bulls and bears continues.</li> 
</ul>  
<p><a href="https://cryptonewsland.com/polkadot-upgrades-with-agile-coretime-transforming-resource-allocation-and-unlocking-a-new-era-of-efficiency-and-scalability-for-the-ecosystem/" target="_blank" rel="noopener noreferrer nofollow">Polkadot (DOT)</a> bulls faced a harsh reality this week as their push toward the $5 mark hit a wall. Sellers yanked the price down once again, as buying momentum evaporated.&nbsp;</p>  
<p>After testing the $5 level multiple times, DOT failed to hold its ground, leaving traders with uncertainty. Currently, DOT is down by nearly 2%, trading around $4.80, with the bears firmly in control.</p>  
<p>The failure to break through $5 has created a sense of hesitation among investors. Yesterday, DOT showed promising signs of recovery, rallying above $5, key resistance level, as the post below suggests.&nbsp;</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/CryptoFaibik/status/1839936895154827675?t=H8CbQ_QbkRZsHxnI1Uvr3g&amp;s=19
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</figure>  
<p>However, the optimism faded as sellers reasserted their dominance. The question now is whether Polkadot can reignite its bullish momentum or if it’s destined to remain under pressure.</p>  
<h2 class="wp-block-heading" id="h-bulls-lose-steam-bears-take-over">Bulls Lose Steam, Bears Take Over</h2>  
<p>Earlier in the week, <a href="https://cryptonewsland.com/polkadots-weekly-chart-signals-breakout/" target="_blank" rel="noopener noreferrer nofollow">Polkadot surged</a> above its 50-day SMA, signaling a potential breakout. A 3.48% increase on Monday had traders excited, with the price rising to $4.46.&nbsp;</p>  
<p>The momentum carried forward into Tuesday, as <a href="https://coinmarketcap.com/currencies/polkadot-new/" rel="noopener noreferrer nofollow">DOT</a> broke past $4.50, reaching $4.64, a gain of 4.04%. Volatility increased midweek as the bears attempted to push DOT below the $4.50 level. Despite the struggle, buyers managed to hold the line at $4.64.</p>  
<p>By Thursday, bulls were back in charge, driving the price up by 3.66%, bringing DOT to $4.81. Hopes were high as market watchers anticipated a move above the critical $5 level on Friday. Polkadot came close, reaching a day high of $4.96, but the rally fizzled. Sellers took the upper hand, and DOT closed at $4.89.</p>  
<h2 class="wp-block-heading" id="h-can-polkadot-break-free-from-bearish-grip">Can Polkadot Break Free from Bearish Grip?</h2>  
<p>Despite the setback, DOT’s technical indicators are flashing some promising signals. Its price chart shows a potential breakout from a falling wedge pattern, a classic bullish reversal signal.&nbsp;</p>  
<p>Moreover, DOT’s <a href="https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/RSI" target="_blank" rel="noopener noreferrer nofollow">Relative Strength Index (RSI)</a> is showing a bullish divergence, with prices hitting lower lows while the RSI makes higher lows. This pattern suggests an impending upward move.</p>  
<p>A successful breakout could see Polkadot’s price soar towards $6 or even $6.50. However, the resistance at $5 remains a formidable obstacle.&nbsp;</p>  
<p>Investors are likely to adopt a cautious approach, waiting for a decisive move before committing to new positions. Until then, the battle between bulls and bears rages on, with no clear winner in sight.</p> 
<p>The post <a href="https://cryptonewsland.com/dots-push-above-5-falters-once-again/" rel="noopener noreferrer nofollow">DOT’s Push Above $5 Falters Once Again: Market Sentiment Turns Cautious as Price Falls</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

DOT’s Push Above $5 Falters Once Again: Market Sentiment Turns Cautious as Price Falls

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