- Polkadot price has breached a critical supply zone at $18.60
- DOT price failed to close above the bearish invalidation level.
- Invalidation of the bearish thesis is a break at $19.45.
Polkadot price hints at bearish power, as the price has failed to close above the invalidation level.
Polkadot price is at a critical point
Polkadot price has interesting signals as the bulls not have breached this week’s invalidation level. It was mentioned in last week’s bearish-neutral thesis that the bulls would need to close above the $19.45 level. Unfortunately, the bulls fell just short of doing so, printing a close just below $19.30 on the 4-hour chart.
Polkadot price has since sold off considerably as price trades at $18.. Polkadot price optimism may have been decimated as the bears pushed through a crucial $18.60 support zone. The zone that the DOT price has just breached is vital for the bulls to establish support.
Traders should still look for other opportunities in the crypto market. Invalidation of the downtrend will be a break and close above $19.45. The DOT price could rally towards $26, resulting in a 50% increase from the current ALGO price.
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