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Polkadot [DOT] suffers maximum damages from the bear

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The crypto-verse was seen dealing with a bunch of bears that weren’t willing to leave the market. Polkadot [DOT], Dogecoin [DOGE], XRP, and various assets were seen suffering losses because of this severe bearish momentum.

Polkadot [DOT] entered the crypto-verse just about a year ago. Despite its reasonably late arrival, it managed to garner the attention of investors. The altcoin sprung up into the top ten and managed to surge in terms of price.

At the time of writing, DOT was trading for $12 with a 1.84% fall over the last 24-hours. The altcoin endured a loss of about 22% in the previous seven days. This was relatively high compared to all the other assets in the market. During the recent crypto rally, the altcoin managed to surge to a high of $49 but failed to hit $50.

The market cap of Polkadot was at $11.6 billion. The altcoin was living on the edge as the ninth-largest cryptocurrency. Binance USD [BUSD] wasn’t very far off from taking over DOT’s spot.

Polkadot [DOT] one-hour price chart on Binance

Polkadot

The short-term price chart of DOT in Binance noted the strong presence of the bull. The Bollinger Bands indicator wasn’t working in favor of the altcoin as its bands were converging instead of diverging. This movement further indicated limited volatility. The MACD line took over the signal line affirming the existence of the bull in the market. This bullish crossover wasn’t very favorable, as the indicator mentioned above noted minimal volatility.

The Relative Strength Index [RSI] indicator noted significant selling activity as the RSI marker was below the 50 median.

This positive notion could be great for Polakdot as it was seen slipping multiple times.

Additionally, the overall market sentiment was negative. Bitcoin [BTC] struggled to make it past $32K, and Ethereum [ETH] was undergoing a similar fate as it drowned below the $2K level. Similarly, several other prominent coins were seen going off track and losing out all the accumulated gains.

Polkadot Surges on Charts to Become Biggest Daily Gainer, Beats Binance Coin

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Polkadot has had a remarkable 2021 with the cryptocurrency climbing into the top 10 club and beating established assets on the charts. Despite the recent bear runs, Polkadot has remained a strong contender for a stable asset holding a large market cap.

An analysis of the previous 24-hours showed Polkadot’s gains as a solid rise spread over an even timeframe. At press time, DOT was trading for $16.8 with a total market cap of $16.12 billion. DOT also enjoyed an 8.3 percent gain on Wednesday, elevating the daily trading volume to $1.12 billion.

Polkadot 1 hour:

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The cryptocurrency continued to hold its current support of $14.7 as the price action fell into a bullish groove. According to the MACD indicator, the cryptocurrency was heading towards bullish territory that may be interspersed with dips. The histogram was also overwhelmingly positive in the bullish spectrum.

Polkadot’s RSI climbed sharply towards the overbought threshold as more people bought into the ecosystem. This was following, DOT’s meteoric rise in July. The CMF plateaued parallel to the zero line showing a dip in internal capital.

Polkadot 1 day:

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Polkadot’s daily climb was slow and steady compared to the hourly charts. The RSI had turned towards the midline indicating a steady climb in buying pressure.

After the last support breach, Polkadot has been more careful in treading the bearish line. The CMF indicator was an example of that as the graph took on a k-shape and shot towards the zero line. Polkadot’s MACD indicator converged at the start of the month after which the divergence has been slow.

Polkadot’s [DOT] attempts to break free from rangebound price action stalls

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After a prolonged mundane price action, the cryptocurrency market posted a recovery. Polkadot [DOT] also capitalized on the market movement as it reduced its weekly loss to 2.28%. The DeFi token had earlier suffered a freefall and is still stuck in a tight range between $14-$16. However, the volatility in the market has picked up which could potentially ensure a much-needed break.

Over the past 24-hours, Polkadot [DOT] retraced by 2.29% pushing its price down to $15.93. At the time of writing, the digital asset registered a market cap of $15.25 billion and a 24-hour trading volume of $1.40 billion.

Polkadot [DOT] Daily Price Chart:

DOT 1

Polkadot [DOT] suffered one of the most damaging setbacks following the crash. It was currently hovering close to levels not seen since January this year ultimately falling below all the moving averages. Soon, the 50 DMA [Pink] sustained a bearish crossover with the 100 DMA [Blue]. Shortly thereafter, a death cross materialized with the 200 DMA [Yellow] further indicating the growing bearishness in the coin market.

The volume has noted a minor uptick that could aid in DOT’s growth.

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The dotted markers of Parabolic SAR have continued to resist an upward breakout depicting that bears still have the upper hand. The MACD underwent a bullish crossover as the market recovered slightly which was indicative of a minor increase in demand. The Relative Strength Index [RSI], however, was lingering in the oversold conditions, meaning the sellers have been dominating the realm.

After a tight consolidation, the uptick that spun out appeared to pause as sellers made a headway. The moving averages too acted as critical resistance points for Polkadot. The bears might try to sink the price to a low of $8.01 if the crypto-assets defense fails.

On the contrary, for it to target highs of $39.7 and $45.9, DOT must first breach the DMAs that stood at levels $23.9, $25.8, and $30.71 respectively.

Polkadot [DOT] could dip down to $13 following bear infestation

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The crypto market was painted in red. Polkadot [DOT] was following the steps of all the other assets and found itself in a slump.

Despite being relatively new, Polkadot emerged as a promising altcoin. Not only did the asset manage to garner a place in the top ten, but it also noted a significant surge in its price. Amidst the crypto rally, DOT rose to a high of $49 but failed to hit $50. The altcoin noticed a drastic drop from this zone down to a low of $14.47 during the time of writing. Over the last 24-hours, DOT dropped by 4.69% and 31% over the previous seven days.

The market cap of Polkadot dipped to $13.80 billion but managed to retain itself in the top ten. At press time, DOT was holding on to the ninth rank. The overall market cap of the crypto-verse mirrored the ongoing market sentiment as it reduced to $1.27 trillion.

Additionally, Bitcoin [BTC] slumped to a low of $30K, while Ethereum [ETH] was noted at $1,800. Furthermore, BTC’s market cap dropped to $592 billion.

Polkadot [DOT] one-day price chart on Binance

Polkadot

The one-day price chart of DOT suggested that the altcoin could be harboring the bear for some more time. The Parabolic SAR indicator formed a long line of dots above the candlesticks. This line diminished the chances of an upward breakout, further making more room for the bear. This was followed by a bearish crossover by the MACD indicator. However, the MACD line remained below the signal line.

The Chaikin Money Flow indicator bid adieu to the bull earlier this week and dropped down to the bearish realm.

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A sellers’ sentiment had struck the crypto-verse, and the DOT market echoed a similar notion. As a result, the Relative Strength Index indicator remained below the 50 median, noting increased selling activity in the Polkadot market. Furthermore, the volume in the one-day chart of DOT was relatively low.

Polkadot [DOT] Jumps 17% After Coinbase Pro Announcement

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Decentralized finance [DeFi] platform, Polkadot’s native governance token – DOT has emerged as one of the best-performing assets this year. In a short span of time, it has grown to be the ninth-largest cryptocurrency by market cap on the leaderboard. Amidst a fresh relief rally, DOT was up by almost 17% and was currently exchanging hands at $25.16, at press time.

With the latest movement, the digital asset geared up for further upside price action after breaking to the positive side of a symmetrical pattern formation. The buying pressure also noted an uptick as suggested by the RSI.

RSI

Coinbase effect on Polkadot [DOT]?

Polkadot’s rise in price was not an isolated event. The market-wide appreciation was also one of the crucial factors but the asset’s price movement also coincided with the latest news of Coinbase adding the DOT token on its professional trading platform. Coinbase’s official blog post on the same noted,

“Starting Today Monday June 14, transfer DOT into your Coinbase Pro account ahead of trading. Support for DOT will generally be available in Coinbase’s supported jurisdictions with the exception of Singapore. Trading will begin on or after 9AM Pacific Time (PT) Wednesday June 16, if liquidity conditions are met.”

The exchange will initiate accepting inbound transfers of Polkadot to Coinbase Pro starting immediately. In addition, if DOT trading will start on or after 9 am Pacific Time [PT], on the 16th of June once the liquidity conditions are established.

Only after the necessary supply of the digital asset is met on the platform, trading of DOT-USD, DOT-BTC, DOT-EUR, DOT-GBP, and DOT-USDT order books will be rolled out in three phases, post-only, limit-only, and full trading.

Generally, Coinbase tends to announce the support of digital assets to its retail platform a few weeks after first listing them on the Pro version. However, there have been no official details in this regard yet. At the time of writing, Coinbase Pro has added support for 50 cryptocurrencies.

Polkadot’s [DOT] imminent death cross can invalidate bullish cues

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The altcoin camp including Polkadot [DOT] was quick to follow Bitcoin’s [BTC] sharp recovery on the 10th of June. The prolonged stunted buying pressure resulted in a weekly loss of 13.95%. However, the latest price action of the top digital assets along with the king coin’s uptick from a low indicated that the market participants were on an aggressive buying mode on major dips.

Over the past 24-hours, Polkadot [DOT] surged by 14.22% which pushed is its price to $23.91. At the time of writing, the digital asset registered a market cap of $22.86 billion and a 24-hour trading volume of $2.41 billion.

Polkadot [DOT] Daily Price Chart:

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Polkadot [DOT] displayed a mild recovery within the confined trendlines of a symmetrical triangle as traders continued to sell on rallies. Upon the completion of the pattern, a breakout could transpire in either direction. This area has faced numerous pullback attempts since, thereby establishing a reliable defensive zone in the process.

But it looks like the bears are in control. The 100 DMA [Blue] moved over the 50 DMA [Pink] in the last week of May and the gauge has been on the rise. As the 50 DMA continued to slide down, it appeared to be heading for an imminent death cross with the 200 DMA [Yellow] which rose above the price candles this week, which was a super bearish sign.

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The Klinger Oscillator dodged a bearish crossover after the quick rebound. MACD’s tryst above the bullish territory has been choppy suggesting an unimpressive buying demand in the DOT market. The RSI, on the other hand, struggled to breakout above the 50-median line as a sentiment of buying pressure was cut short by the selling in the market.

The buyers might try to push the price above the 200 DMA at $24.53. If they succeed, the DOT/USD pair could rally to the immediate target point of $30.95 and $34.17 before breaching its previously established record highs. However, Polkadot may stiff resistance in this region which would prompt a downward price action.

If a death cross materializes, it will start a massive bearish journey for the defi token sending its price to plummet to support levels of $17.9, and $8.16 respectively.

Polkadot [DOT] eyes $30 as it notices a trend reversal

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Recovery wasn’t too far away for the crypto-verse. Almost all the coins in the market, like Polkadot [DOT], Bitcoin [BTC], Binance Coin [BNB], and several others were seen getting back on track. While BTC’s price was inclining towards $39K, the coin’s market cap surged over $600 billion further aiding in the surge of the overall market cap. BNB wasn’t any less as the altcoin had surged to a high of $420.

Despite being relatively new to the crypto industry, Polkadot [DOT] has been making headlines. This asset steered heads right after it scored a spot on the top ten. The asset still remains on top as the eighth-largest cryptocurrency. During press time, the market cap of DOT was at $25.85 billion.

Furthermore, the price of the altcoin, at the time of writing was $27. The altcoin was seen having a good day as it recorded an 11% surge in the last 24-hours. While the crypto rally pushed the crypto asset to a high of $49.69, the bears kept it from hitting $50.

Polkadot [DOT] one-day price chart on Binance

Polkadot

The one-day price chart of DOT was filled with multiple sentiments. However, the market seemed to be inclining towards the bull. The Parabolic SAR indicator alerted that the bears with still in the DOT market as it laid out dotted lines over the candlesticks. While this line acted as a barrier against an uptrend, the Awesome Oscillator reported a strong bullish notion.

The Awesome Oscillator laid out green closing bars affirming the presence of bulls in the market. The MACD indicator was headed towards a stay in the bullish arena. Earlier this month, the MACD line crept up the signal line further forming a bullish crossover. This trend was further prolonged. With the majority of the indicators reporting bull sightings, Polkadot could soon be making its way on to $30.

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Despite this strong bullish predilection in the DOT market, the Relative Strength Index [RSI] announced that the altcoin was in a sellers’ market.

Ethereum’s [ETH] share of AUM hits record high; PoS coins’ popularity rises

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Ethereum might have been struggling with the recent market, but Institutional investors have remained unfazed for the most part. This cohort of market players have only recently started favoring Ethereum more than Bitcoin and by the looks of it, this sentiment is here to stay for some time.

According to the latest ‘Digital Asset Fund Flows Weekly’ report by the digital asset management firm CoinShares, Ethereum investment products have gained massive traction. The subsequent market corrections led many investors to add positions with net flows into investment products of $74 million last week. Ethereum emerged as a clear winner.

Ethereum, Alts Gain Traction, Bitcoin Trails Behind

Well over 60% of institutional inflows were induced into Ethereum products, as the digital asset saw a resumption in inflows which summed up to a total of $47 million last week.

Along the same lines, the report stated,

“The price correction had a minor impact on investment flows the previous week, but this looks to have recovered, with all product providers seeing inflows. Ethereum achieved its highest share, peaking at nearly 27% of all investment products last week.”

Things were not the same for Bitcoin as institutional investors continue to exit the king coin. Coinshares stated that outflows remained focused on BTC which accounted for $4 million this week alone. With this, the total outflow in the past three weeks totaled $246 million which reflected 0.8% of the combined assets under management [AUM].

The recent inflows to Bitcoin might have slowed down owing to back-to-back crashes and the outbreak of debates with regards to the mining impact on the environment, the total inflow figure, however, remained positive in terms of year-to-date. According to the stats, it was found to be at around $4.4 billion.

The recent figure for investment product flows demonstrated that products offering exposure altcoins have also risen to prominence. Especially, proof-of-stake coins such as Cardano [ADA], Polkadot [DOT], and XRP have become quite popular and saw inflows of $5.2 million, $3.8 million, and $4.5 million respectively.

Polkadot’s [DOT] rapid buying the dip fails to invalidate bearish cues

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Riding along with the wave of the broader cryptocurrency market, Polkadot [DOT] gained steam to make a quick rebound. Several other defi tokens also staged a recovery, both big and small, as part of the overall rally in digital assets.

After two weeks of incessant bearish pressure, DOT tokens fell to levels that were last seen in February this year as investors exited their investments. It would be interesting to see if the technicals are in favor of the major comeback.

Over the past 24-hours, Polkadot was up by 5.50% which pushed its price to $23.57. The defi token held a market cap of $23.04 billion and a 24-hour trading volume of $3.27 billion, at the time of writing.

Polkadot [DOT] Daily Price Chart:

DOT 1

Polkadot appeared to be heading for a v-shaped recovery after hitting a nearly 4-month low price. The Volume has firmly supported the digital asset’s rise after the free fall as investors jumped in to rake in profits on the 19th of May. After this level cracked, investors bought another dip at a lower level three days later following which DOT jumped above.

The moving averages, however, suffered a bearish crossover and was above the DOT price candles which depicted a weakness in the bulls.

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The dotted markers of Parabolic SAR aligned above the DOT price candles indicated bearish cues in the market. The red closing bars of Awesome Oscillator [AO] also depicted a weakening bearishness in the coin market. the RSI was also yet to recover from the bearish territory.

Hence, Polkadot’s recovery in progress could potentially halt and could result in the price turning down from $18.01-support, a break below which could sink it below $8.3 and $4.5 respectively.

On the other hand, a move above the resistance at $29.01 will invalidate this prediction. Regaining the range between $29-$38 could potentially flip bearish conditions and eventually push the price of Polkadot to another point of resistance at $45.7.

Polkadot [DOT] jumps onto the earthward bandwagon as it slumps below $30

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The crypto industry has caught the attention of the world after it experienced a significant crash. Polkadot [DOT] was however beating all the other assets in terms of daily loss. The fairly new coin had captured the interest of the community with its price change as well as its journey up the crypto ladder. Now, however, the altcoin dropped down to the eighth position as its market cap dipped to $26 billion.

The price of Polkadot [DOT] during the time of writing, was at a low of $28 with a whopping 24% drop since the last 24-hours. Just when the crypto market began crashing, DOT stood still at $47 without enduring any major fluctuations. The asset clearly failed to retain itself on the top as it dipped below $30.

Additionally, coins like Bitcoin [BTC] and Ethereum [ETH] weren’t doing all that well either. Bitcoin sunk below $40K while ETH staggered at $2.6K. The global market cap of the crypto industry fell back as it dropped below $2 trillion to $1.7 trillion, during press time.

Polkadot [DOT] one-hour price chart on Binance

Polkadot

The short-term price chart of DOT noted a bullish presence. The Parabolic SAR indicator after laying down a long line of dots over the candlesticks fell below the candlesticks transforming itself into a line of support. This further suggested bullish momentum in the DOT market. The Awesome Oscillator indicator formulated green closing bars announcing bull take over.

The Money Flow Index indicator revealed a buyer’s market.

Polkadot [DOT] one-day price chart on Binance

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Contrary to its short-term price chart, DOT exerted extreme bearishness on its one-day price chart. The MACD line fell below the signal line forming a bearish crossover. This cross-over and the disparity between both the lines suggested that DOT would be residing in the bearish arena for quite a while. The Klinger Oscillator followed suit and also formed a bearish crossover. The Relative Strength Index [RSI] indicator noted strong sellers’ sentiment.