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ToCoMi
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DOT drops tot $3.62 - Is it rebound time?
Polkadot ($DOT ) has dropped to $3.62, a sharp fall from around $4.50 just a week ago, amid broader crypto market volatility, with total market cap now at $2.6T.
The 4H chart shows a breakdown below the key $3.80 support, accompanied by rising volume. However, Polkadot recently rolled out a parachain upgrade that reduced transfer fees by 20%, and 15 new projects joined the network this month.
The dip below $3.80 signals a bearish sentiment, but with the RSI at 35.54, DOT is nearing the oversold zone—so a rebound might be close.
In my opinion, if $3.50 holds as support, we could see a push toward $3.90 in the next few days. But if it breaks below $3.50, the next target could be $3.20.
Wait for confirmation at the $3.50 level before buying, or consider scaling in gradually under $3.60 for a long-term bet—Polkadot’s interoperability remains a key strength.
That’s just my take—what do you think? Has DOT hit bottom, or is there more downside to come?
Polkadot ($DOT ) has dropped to $3.62, a sharp fall from around $4.50 just a week ago, amid broader crypto market volatility, with total market cap now at $2.6T.
The 4H chart shows a breakdown below the key $3.80 support, accompanied by rising volume. However, Polkadot recently rolled out a parachain upgrade that reduced transfer fees by 20%, and 15 new projects joined the network this month.
The dip below $3.80 signals a bearish sentiment, but with the RSI at 35.54, DOT is nearing the oversold zone—so a rebound might be close.
In my opinion, if $3.50 holds as support, we could see a push toward $3.90 in the next few days. But if it breaks below $3.50, the next target could be $3.20.
Wait for confirmation at the $3.50 level before buying, or consider scaling in gradually under $3.60 for a long-term bet—Polkadot’s interoperability remains a key strength.
That’s just my take—what do you think? Has DOT hit bottom, or is there more downside to come?
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