🔥Hot off the press! Polkadot's (DOT) price is taking a bit of a tumble, breaking below the $6 support region. 😮 But hey, don't fret! This is a trend we're seeing across all altcoins.

📉The 100-day moving average crossing below the 200-day one signals a bearish sentiment. We might see the price dip towards the $5 mark, but it could also mean a period of consolidation at this level.

🔍On the 4-hour chart, we're seeing a bearish price channel forming. DOT might face some short-term volatility, but we're predicting a consolidation period between $5.4 and $6.

🎯Now, here's where it gets interesting. The recent break below $6 has triggered a long-squeeze event, liquidating a bunch of long positions. There's a lot of liquidity near the $6 mark, which could be a prime target for buyers.

🤔So, what are your thoughts? Will DOT bounce back or continue its bearish trend? Let's chat in the comments! #DeFi #Web3 #CryptoNews