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You are here: Home / News / Bearish bandwagon onboards Polkadot [DOT]; $30 still out of DOT’s reach?
Polkadot

Bearish bandwagon onboards Polkadot [DOT]; $30 still out of DOT’s reach?

September 28, 2021 by Sahana Kiran

Recovery was still inaccessible for the crypto market. However, few assets like Polkadot [DOT], Binance Coin [BNB], and Dogecoin [DOGE] were seen making efforts towards the change in the ongoing market sentiment. All the other coins were smeared in red. With the entire market riding the bearish wave, a sense of positivity seemed obliged.

Bitcoin [BTC] was still stuck below $45K. The king coin could take a while before it reaches $50K, the market speculated. Apart from its price, the asset’s market cap was also taking a hit. The market cap of the world’s largest cryptocurrency had plummeted below $800 billion. During press time, it was at $791 billion which further impacted the overall market cap of the crypto-verse, which dropped to $1.87 trillion.

The fairly new cryptocurrency, Polkadot [DOT] was seen among the bears. The altcoin endured a massive fall and has been trying long and hard to move over the next zone. However, the constant invasion of the bear has been making it difficult for the altcoin. At the time of writing, DOT was trading for $27.92 with a 24-hour negative price change of 3.40%. Over the previous seven days, DOT experienced a loss of about 6.67%.

With regard to its market cap, DOT slipped down the crypto ladder. The altcoin’s market cap was noted at $31 billion which further aided in recognizing it as the ninth-largest coin.

Polkadot [DOT] one-hour price chart on Binance

Polkadot
Bearish bandwagon onboards Polkadot [DOT]; $30 still out of DOT's reach? 3

The short-term price chart of DOT acknowledged the persistence of the bear. The Parabolic SAR indicator laid out dotted lines over the candlesticks, further alerting the presence of the bear in the Polkadot market. The Chaikin Money Flow [CMF] indicator also mirrored the aforementioned sentiment as the CMF marker resided in the bearish sector.

The Relative Strength Index [RSI] indicator announced a sellers’ market as the RSI marker remained below the 50 median.

Filed Under: News, Altcoin News, Market Analysis Tagged With: polkadot

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