{"id":495725,"date":"2022-07-15T04:00:28","date_gmt":"2022-07-15T04:00:28","guid":{"rendered":"https:\/\/wncen.com\/?p=495725"},"modified":"2022-07-14T18:12:45","modified_gmt":"2022-07-14T18:12:45","slug":"a-breakout-above-this-level-could-help-polkadot-recover-on-chart","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/a-breakout-above-this-level-could-help-polkadot-recover-on-chart\/","title":{"rendered":"A Breakout Above This Level Could Help Polkadot Recover On Chart"},"content":{"rendered":"
Polkadot has witnessed continued downfall in price since the last month. It has now established its support level at $6.30, however, the coin has been trading very close to that support level. After it broke below the $6.66 support line, the coin has spiralled downwards.<\/p>\n
It retested the $6.30 level the past month. Technical outlook for the coin displayed build up of bullish pressure. The price of the altcoin has remained sandwiched between the $6.58 and $6.30 levels over the last trading sessions respectively. DOT has continued to face rejections at the $7 level and that had exhausted the bulls on the chart.<\/p>\n
Broader market weakness is also to be blamed for DOT’s mundane price action. DOT briefly traded below the support line of $6.30\u00a0 in July which had led to a sell-off on the chart. Indicators display recovery of buying strength. If buyers regain the momentum then there is a chance for DOT to climb above its immediate resistance mark.<\/p>\n