Polkadot (DOT) Price Prediction: Will It Crash or Rise?

Polkadot (DOT) has been struggling to gain momentum, facing resistance around the $5 mark. Currently priced at $4.12 with a market cap of $6.18 billion, DOT is down 1.87% in the last 24 hours and has a bearish outlook.

Why Is DOT Down?
Despite a 25% increase in on-chain activity since May 2023, DOT hasn't broken the $5 resistance, bouncing between $4 support and $5 resistance. If DOT falls below $4, it could drop to $3.62. However, if it breaks $5, a rally may follow.

Will DOT Crash to Zero?
Unlikely. DOT has shown resilience, outperforming its token sale price and seeing positive movement in over half of the past 30 days. High liquidity also helps prevent drastic price drops.

Can DOT Rise Again?
Breaking above $5 could spark a rally, but failure to hold the $4 support may lead to further declines. External market conditions and network activity will be key to DOT's future price movement.

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