A brief technical and on-chain analysis on Polkadot price. Here, FXStreet's analysts evaluate where DOT could be heading next as it shows multiple bearish signals.
Author
FXStreet Team
FXStreet
Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
The broader cryptocurrency market maintains risk-off sentiment ahead of the US Federal Reserve interest rate decision on Wednesday. Bitcoin holds above $63,000 on Wednesday, while Bittensor and Cardano sustain gains from the previous day.
Bitcoin, Ethereum and Ripple remain under pressure on Wednesday after a mild correction earlier this week. BTC slips below a key support zone, and ETH is testing a key resistance zone. Meanwhile, XRP is drifting toward the psychologically important $1.00 support level.
Bitcoin eased below $64,000 on Tuesday as traders navigate exchange shutdowns and heightened uncertainty ahead of the Federal Reserve’s policy meeting, according to K33. In a report on Tuesday, K33 noted that BitMEX's decision to shut down marks the end of an important chapter for the crypto derivatives market.
