2024

Polkadot

The post <a href="https://coinpedia.org/price-analysis/dot-price-gives-sell-signal-amidst-6-5-breakdown-20-risk/">DOT Price Gives Sell Signal Amidst $6.5 Breakdown, 20% Risk!&nbsp;</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With the market sliding down, the altcoins are facing immense sell-offs and cracking under multiple support levels. In a similar condition, the DOT price trend showcases a bearish pattern breakdown that signals a downfall trend.&nbsp; 
With constant hammering on the $6.50 support level and 50% Fibonacci level, the Bears are finally breaking through for a downslide. Under such conditions, the FUD is growing amongst investors, which may soon lead to a sharper pullback.&nbsp; 
To avoid facing early exits, read our <a href="https://coinpedia.org/price-prediction/polkadot-price-prediction/">Polkadot price prediction</a> for a long-term picture.&nbsp; 
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Source – <a href="https://www.tradingview.com/x/qbT3s1Cw/">Tradingview</a> 
In the daily chart, the DOT price shows a remarkable bearish trend reversal with a head and shoulder breakdown. Further, the breakdown rally finds a significant increase in trading volume and warns of a continuation of the bearish trend. 
The $6.50 breakdown tests the 200-day EMA and warns of a breakdown in case the selling pressure increases. Currently, the DOT price trades at $6.10 and shows an intraday fall of 3.79%, leading to a strong bullish candle.&nbsp;&nbsp; 
Technical Indicators: 
MACD indicator: The MACD and signal lines showcase a sharp, bearish trend continuation as it crosses below the zero line. Further, the rising bearish histograms add points to the possibility of downfall.&nbsp; 
<h2 class="wp-block-heading" id="h-will-the-dot-price-crash-under-5">Will The DOT Price Crash Under $5?</h2> 
As 2024 turns into a bearish year at the start, altcoins are rolling off the runway and plunging to new lows for this year. Further, the DOT price is shifting gears to enter a high-speed bear run. As of now, the 200-day EMA acts as the final support and may lead to a drop under $5 to $4.80.&nbsp; 
On the flip side, a bounce back from the dynamic support can test the $7 mark.

DOT Price Gives Sell Signal Amidst $6.5 Breakdown, 20% Risk!

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