🚨Analyzing POLKADOT’s latest price fall ahead of its potential 73% gains
- $DOT is expected to see a decline from its present time level, according to market indicators and sentiment analysis
- If sufficient buying pressure emerges at the support level, a strong rebound can be anticipated
By transferring their DOT holdings from private wallets to exchanges for sale, spot traders appeared to have started a downward trend. Actually, according to recent data, exchanges received DOT netflows of $125.72 million, which indicates a high level of selling demand.
The chart indicates the next possible support level for DOT, based on AMBCrypto's technical analysis. Indeed, its price movement at the time of writing indicated a decline to $4.484, where it might find the support required for a rise. If there are enough purchasing orders at this point, DOT may rise 73.39% to reach its target price of $7.75.
While DOT’s press time price action appeared bullish, the decline may only be temporary before an upward continuation.
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