According to CryptoPotato, analyst Shayan's technical analysis shows that Polkadot's recent increase in selling near the 200-day moving average has caused it to touch the lower boundary of the sideways trading range. If this boundary is unexpectedly broken, the bearish trend is likely to continue. We observed in Polkadot's daily chart that its price had a clear rejection reaction after reaching the key 200-day moving average of $7.4. Subsequently, the cryptocurrency experienced a decline and eventually fell to the lower boundary of its sideways trading range, which is the important support area of ​​$6. This sideways movement suggests possible continued consolidation, and a decisive and strong breakthrough in the price range of $6 to $7.5 is crucial to determine its future trend. However, if the $6 support zone is suddenly broken, it may trigger a chain reaction that may push the price to the $5.5 level.

#Polkadot