DOT prices are bearish for a second consecutive day as the prices fall by nearly 2.6%. The trading volume has also fallen as well as the market cap. The prices have been at the lowest levels in the past 30 days.
In the past 30 days, the token rose to an ATH above $55 and fell to a low price of $32.75. Currently, the token is at $35.7 and aims for higher prices, but the volumes are not enough.
Data from CoinMarketCap shows that the trading volume of the token dropped by over 24.93% and is currently at $1.16 billion, while the market cap of the token dropped by 4.76%. The market rank of Polkadot is 9th, with a market cap of $35.1 billion.
The prices opened today’s daily candle at $36.76 and reached a daily low of $35.05. The daily high stands at $36.79, while the overall trend is bearish following the crash in mid-November.
DOT price analysis on the daily chart
The daily chart shows that the DOT token is currently under bearish pressure as the prices fell below the 50-day Moving Average as well as the 100-day Moving Average. If such conditions continue to prevail, we can expect lower prices for the token.
The Polkadot price chart below shows that the accumulation of the token continues to increase. The trend is bearish while the A/D line is still rising. A bullish breakout is possible for Polkadot soon.
The MACD line is progressing below the signal line, which is a bearish sign indicating lower prices. However, the two lines are closing in, and the possibilities of bullish divergence are increasing.
The RSI levels have entered the bearish region, and the gradient is negative. This means that lower prices are possible as prices are entering the overbought region.