After showing signs of recovery early this week, Polkadot (DOT) traded below $7 again as it failed to reach a critical resistance level.
Polkadot failed to move past the 20-day SMA, a key resistance level and is back trading below $7. $DOT showed early signs of recovery early this week after a successful weekend saw the coin trading above $7. Polkadot further saw a decline in developer activity, possibly fueling its downward trend.
$DOT Looses Partial Recovery
A mere week ago, Polkadot ($DOT) showed signs of recovery, trading at $7.11 after a successful weekend. $DOT faced significant resistance and traded back in the red on Monday. Things took a bullish turn during the Tuesday trading session after buyers took control late on Monday, with the price recording an increase of 4.62%, which settled at $7.47. Sellers, however, took control over the following two days, pushing the price back under $7.00.
The chart below shows $DOT’s continued oscillation between $6 and $
We współpracy z: https://cryptodaily.co.uk/2024/04/polkadot-dot-price-analysis-dot-trades-below-7-as-development-activity-declines
