Polkadot Price Declines 4.38% as It Approaches Critical Support Level

Polkadot (DOT) has seen a price decline of 4.38% in the past day, contributing to a weekly loss of 7.99%. The asset slipped below a key support level at $4.47, with market analyst Ali Martinez predicting a potential drop to a support zone at $3.80.

Key Insights

Current price: $4.32
Trading volume decreased to $145.81 million
Potential rebound if support at $3.80 holds, targeting $6.40 and possibly $10.80
If support fails, possible decline to $2.30 with targets around $1.25-$1.45
Market cap: $6.72 billion; ranks among the top 30 cryptocurrencies
RSI currently at 39, indicating oversold conditions

Technical indicators suggest a waning selling pressure, but a rally may not happen immediately as DOT's price remains below its 100-day Simple Moving Average (SMA).