$DOT at a Crossroads: Technical Analysis of 4 Hours

**Body of the Post:**

🔍 **Technical Analysis of Polkadot (DOT) at 4H**

**Current Status:**

- Current price of DOT: $7.62

- Recent decline: -7.52% in 24 hours.

**4H Trend:**

- We observe a bearish trend, with DOT consolidating between $7.50 and $8.00. Will this be the floor or will the decline continue?

**Key Indicators:**

- **Moving Averages:**

- **MA20 and MA50:** Act as resistances at $7.90 and $8.05 respectively.

- **MA200:** With DOT below, the long-term trend remains bearish.

- **RSI:** At 46.11, it is not oversold, but also not overbought, suggesting a market in search of direction.

- **MACD:** A divergence could indicate a weakening of bearish momentum.

**Patterns to Watch:**

- **Consolidation:** We are in a narrow range, with $7.50 as crucial support.

- **Descending Wedge:** Could be forming, which signals a significant movement. Pay attention to confirm this pattern.

**Levels to Observe:**

- **Support:** Keep an eye on $7.50. If it breaks, we could see a drop to $6.80.

- **Resistance:** $8.00 and $8.678 are the next hurdles for a recovery.

**Sentiment on X:**

- The community is divided but hopeful that the solid fundamentals of Polkadot can drive a rebound.

**Conclusion:**

DOT is at a pivotal moment. Maintaining support at $7.50 could be the key to a rebound, but if lost, the bearish trend could continue. Stay alert, manage your risk, and prepare for volatility.

Do you think DOT will find its way up or continue to fall? Share your opinion in the comments!