Bitcoin [BTC] had finally slipped down below $35K and all the other assets followed. Polkadot [DOT], however, was seen surging amidst the bloodshed. Bitcoin Cash [BCH] as well as Litecoin [LTC] emerged as big losers of the bear struck market. XRP continued its downward trend which caused the altcoin to remain below $0.30. The DeFi coins that had been prevailing in the last few days were seen on the same downhill journey. The global market cap of the crypto-verse had also plummeted by 3% which led to the figures falling below $1 trillion down to $985.07 billion.
Polkadot [DOT] undoubtedly steered heads with its market cap pushing past $14 billion. The asset hit an all-time high of $19.32 just five days ago, however, at press time DOT was trading for $16.22. Despite this downfall, the fairly new coin retained bulls in its market.
Polkadot [DOT] One Hour Price Chart On Binance
The DOT market was recently subject to an increase in volatility. The volume in the DOT market on Binance was moving earthward after a high. In the one hour price chart of DOT, the Bollinger Bands indicator pointed out that the asset was in for a few more fluctuations, however, the bands were sluggishly moving inwards with a possibility of restraining the high volatility.
Polkadot [DOT] Price Chart On Binance With Indicators
Over the last seven days, DOT had bagged in gains of about 50%. This hot streak was all set to break thanks to the invasion of bears in the DOT market. The Parabolic SAR indicator laid out lines above the candlesticks restraining the likelihood of an upward breakout. The Money Flow Index indicator was heading back below 50 median exhibiting a sellers’ sentiment. The Awesome Oscillator indicator also revealed a bearish momentum by forming red closing bars.
Polkadot could take a plunge downwards as the bears were seen taking over.