Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Will Deg Price reach $ 1?

2025-05-13

XRP -price recovers profit, but retains its bullish structure

2025-05-13

Tron and Ethereum fight for the USDT top position

2025-05-13
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Tron and Ethereum fight for the USDT top position

    2025-05-13

    Stargate brings Cronos closer to the future of Omnichain

    2025-05-13

    Abu Dhabi launches a large project with Agile Dynamics for quantum -safe blockchain

    2025-05-13

    Zimbabwe is turning into blockchain to breathe new life into the trust of the carbon credit of carbon credit

    2025-05-13

    Atlaspad and Arichain unite to stimulate user-friendly and scalable web3 acceptance

    2025-05-12
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    SEC chairman atkins repeats himself to overhaul crypto rules, promises to end ‘Regulation by enforcement’

    2025-05-12

    ‘Bond King’ Jeffrey Gundlach calls a catalyst who can cause an interest rate this year

    2025-05-11

    Concern about Trump’s conflict of interest slows down the progress of a broader crypto policy

    2025-05-10

    The German police interrupt $ 38,260,000 in crypto from Exchanges in the midst of allegations. The exchange has been washed bybit funds

    2025-05-10

    Trump Blackballs Lobby firm about controversy related to his ‘Crypto Strategic Reserve’ Truth Social Post: Report: Report

    2025-05-10
  • Analysis

    XRP -price recovers profit, but retains its bullish structure

    2025-05-13

    Hyperliquid affects $ 6 billion in open interest while Bitcoin tests $ 105k near price discovery

    2025-05-13

    Cardano (ADA) Dips: Temporary correction or start of deeper movement?

    2025-05-13

    The market capitalization of PI Network jumps $ 7 billion like token skyrockets 110% in a week in the middle of market bending

    2025-05-13

    Can the resistance crush and re -design the rally?

    2025-05-12
  • Learn

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09

    What Is Proof-of-Stake (PoS)? A Beginner’s Guide

    2025-05-09

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Altcoins»Polkadot drops below $4.84, now what?
Altcoins

Polkadot drops below $4.84, now what?

2023-08-16No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Disclaimer: The information presented does not constitute financial, investment, trading or other advice and is solely the opinion of the author.

  • Polkadot saw its market structure turn bearish earlier this month.
  • A price move to $4.6 was brewing, but further losses would indicate a drop as far south as $3.9 is on the table.

Dot [DOT] saw the bears make a convincing downward move after the break of the market structure in early August. Social statistics and development activities increased, but this could not discourage the sellers.


Is your wallet green? Check the Polkadot Profit Calculator


The price chart showed that a downtrend was underway and a move to $4.6 was very likely. Whether or not the bulls can defend that level of support remains to be seen. The latest development could allow DOT to drop below $4.

Attempts to defend $5 over the past two weeks have left buyers exhausted

Dot [DOT] drops below $4.84, will prices fall below $4 later this year?

Source: DOT/USDT on TradingView

On August 2, DOT dropped below a recent higher low of $5.1. Highlighted in orange, it indicated a break in the market structure in favor of the bears. After that, the price bounced between the $4.95 and $5.06 levels until August 15.

About 36 hours before going to press, the bears seized the initiative. On the back of a Bitcoin [BTC] rejecting it for $29.6k, the DOT sellers forced prices to $4.62 on Aug. 15.

The Directional Movement Index showed that a strong bearish trend was imminent, and the RSI also signaled strong bearish momentum. The CMF, on the other hand, registered a remarkable inflow of capital into the DOT market.

See also  Binance Releases Proof of Reserves Report – Can It Drive Out the FUD?

Fibonacci retracement levels (yellow) were plotted based on the mid-June rally. The 78.6% level at $4.59 was one bulls had to defend. It comes along with the bullish D1 order block from June.

A daily trading session near $4.59 would indicate that the bears remain dominant. It would likely encourage a downward move to $3.92.

The open interest and financing rates supported the bearish idea

Dot [DOT] drops below $4.84, will prices fall below $4 later this year?

Source: Mint glass

The Open Interest made some gains from August 8 to August 11. During this time, DOT hovered around the $5 support level. After August 15, the OI saw a sharp plunge as prices fell. This suggested bearish sentiment in the market, but did not indicate an increase in short positions in the market.

Dot [DOT] drops below $4.84, will prices fall below $4 later this year?

Source: Mint glass


Realistic or not, here is DOT’s market cap in terms of BTC


The funding rate sank deep into negative territory. It had a value of -0.0182% at the time of writing, according to Coinglass data. Together, the OI and the funding rate showed that bears had an advantage.

The financing rate turning negative suggested that the majority of the market wanted to sell DOT. This was not good news for long-term bulls who would like to see the $4.6 level defended. A Bitcoin recovery was one thing that could help DOT buyers.

Source link

Drops Polkadot
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Will Deg Price reach $ 1?

2025-05-13

Sui surpasses Solana with $ 11.7 million inflow – more upside down?

2025-05-13

Bitcoin is confronted with key resistance after 10% rally

2025-05-13

Cardano: As whaling rises, does Ada see a potential increase?

2025-05-13
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Binance launches AI-powered NFT generator for KYC-verified users

2023-07-26

SuperRare’s Latest NYC Gallery Pop-Up Brings Human Connection Back To NFT Art

2023-05-24

Crypto Whales Load $640,500,000 Worth of Dogecoin (DOGE) in Just Two Days, Says Analyst

2025-01-22
Editors Picks

9 factors to consider when choosing a blockchain consensus mechanism

2023-10-11

Worldcoin ‘disappointed’ with Hong Kong ban as WLD drops 5%

2024-05-23

Coinbase-backed Base is restoring block production after a 40+ minute outage

2023-09-06

Polygon (MATIC) is witnessing high volatility amid positive developments

2023-06-17

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Will Deg Price reach $ 1?

XRP -price recovers profit, but retains its bullish structure

Tron and Ethereum fight for the USDT top position

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$103,586.221.01%
  • ethereumEthereum(ETH)$2,563.922.95%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.53-1.67%
  • binancecoinBNB(BNB)$654.48-1.36%
  • solanaSolana(SOL)$175.030.10%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.231791-0.15%
  • cardanoCardano(ADA)$0.80-1.77%
  • tronTRON(TRX)$0.268013-2.45%
  • suiSui(SUI)$4.001.98%
  • chainlinkChainlink(LINK)$16.83-0.06%
  • avalanche-2Avalanche(AVAX)$24.830.46%
  • stellarStellar(XLM)$0.306829-4.93%
  • shiba-inuShiba Inu(SHIB)$0.000016-2.73%
  • hedera-hashgraphHedera(HBAR)$0.210010-3.39%
  • hyperliquidHyperliquid(HYPE)$25.312.73%
  • the-open-networkToncoin(TON)$3.29-3.99%
  • piPi(PI)$1.1311.40%
  • bitcoin-cashBitcoin Cash(BCH)$403.75-1.15%
  • unus-sed-leoUNUS SED LEO(LEO)$8.621.54%
  • polkadotPolkadot(DOT)$5.03-1.67%
  • litecoinLitecoin(LTC)$100.940.47%
  • moneroMonero(XMR)$336.020.02%
  • pepePepe(PEPE)$0.0000142.74%
  • bitget-tokenBitget Token(BGB)$4.750.80%
  • daiDai(DAI)$1.000.02%
  • ethena-usdeEthena USDe(USDE)$1.000.04%
  • uniswapUniswap(UNI)$6.84-1.09%
  • bittensorBittensor(TAO)$457.922.01%
  • nearNEAR Protocol(NEAR)$3.13-0.16%
  • aptosAptos(APT)$5.82-1.22%
  • aaveAave(AAVE)$226.113.28%
  • okbOKB(OKB)$53.91-2.10%
  • kaspaKaspa(KAS)$0.1224332.84%
  • ondo-financeOndo(ONDO)$1.01-1.51%
  • ethereum-classicEthereum Classic(ETC)$19.920.59%
  • internet-computerInternet Computer(ICP)$5.65-3.07%
  • mantleMantle(MNT)$0.800.22%
  • crypto-com-chainCronos(CRO)$0.1011231.68%
  • render-tokenRender(RENDER)$5.17-0.90%
  • gatechain-tokenGateToken(GT)$21.68-0.68%
  • vechainVeChain(VET)$0.030516-2.95%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.250480-3.67%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.84-1.78%
  • ethenaEthena(ENA)$0.391961-1.61%
  • usd1World Liberty Financial USD(USD1)$1.00-0.28%
  • arbitrumArbitrum(ARB)$0.430923-1.90%
  • filecoinFilecoin(FIL)$3.08-1.94%
  • algorandAlgorand(ALGO)$0.237310-3.49%
  • bitcoinBitcoin(BTC)$103,586.221.01%
  • ethereumEthereum(ETH)$2,563.922.95%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.53-1.67%
  • binancecoinBNB(BNB)$654.48-1.36%
  • solanaSolana(SOL)$175.030.10%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.231791-0.15%
  • cardanoCardano(ADA)$0.80-1.77%
  • tronTRON(TRX)$0.268013-2.45%
  • suiSui(SUI)$4.001.98%
  • chainlinkChainlink(LINK)$16.83-0.06%
  • avalanche-2Avalanche(AVAX)$24.830.46%
  • stellarStellar(XLM)$0.306829-4.93%
  • shiba-inuShiba Inu(SHIB)$0.000016-2.73%
  • hedera-hashgraphHedera(HBAR)$0.210010-3.39%
  • hyperliquidHyperliquid(HYPE)$25.312.73%
  • the-open-networkToncoin(TON)$3.29-3.99%
  • piPi(PI)$1.1311.40%
  • bitcoin-cashBitcoin Cash(BCH)$403.75-1.15%
  • unus-sed-leoUNUS SED LEO(LEO)$8.621.54%
  • polkadotPolkadot(DOT)$5.03-1.67%
  • litecoinLitecoin(LTC)$100.940.47%
  • moneroMonero(XMR)$336.020.02%
  • pepePepe(PEPE)$0.0000142.74%
  • bitget-tokenBitget Token(BGB)$4.750.80%
  • daiDai(DAI)$1.000.02%
  • ethena-usdeEthena USDe(USDE)$1.000.04%
  • uniswapUniswap(UNI)$6.84-1.09%
  • bittensorBittensor(TAO)$457.922.01%
  • nearNEAR Protocol(NEAR)$3.13-0.16%
  • aptosAptos(APT)$5.82-1.22%
  • aaveAave(AAVE)$226.113.28%
  • okbOKB(OKB)$53.91-2.10%
  • kaspaKaspa(KAS)$0.1224332.84%
  • ondo-financeOndo(ONDO)$1.01-1.51%
  • ethereum-classicEthereum Classic(ETC)$19.920.59%
  • internet-computerInternet Computer(ICP)$5.65-3.07%
  • mantleMantle(MNT)$0.800.22%
  • crypto-com-chainCronos(CRO)$0.1011231.68%
  • render-tokenRender(RENDER)$5.17-0.90%
  • gatechain-tokenGateToken(GT)$21.68-0.68%
  • vechainVeChain(VET)$0.030516-2.95%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.250480-3.67%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.84-1.78%
  • ethenaEthena(ENA)$0.391961-1.61%
  • usd1World Liberty Financial USD(USD1)$1.00-0.28%
  • arbitrumArbitrum(ARB)$0.430923-1.90%
  • filecoinFilecoin(FIL)$3.08-1.94%
  • algorandAlgorand(ALGO)$0.237310-3.49%