Polkadot Analysis

  • DOT price struggling to overcome resistance at the 200-day simple moving average.
  • February 23 and April 23 lows create a significant technical challenge.
  • Lack of support leaves Polkadot vulnerable to a new wave of liquidation in the cryptocurrency market.

DOT price has not identified any price traction above $25.90 since the rebound from the May 23 low. The area of resistance defined by the 200-day SMA at $23.57 and $25.90 may continue to stifle DOT bounces in the short term, encouraging investors to study opportunities from a long and short perspective.

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