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BTCUSD Bitcoin

70,366.42

-1,082.99 (-1.52%)

16:25:16 - Realtime Data

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,378,994,698,263	SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-1,082.99	-1.52%	70,366.42	70,362.70	70,368.48

High Price	Low Price	Open Price	Prev. Close	52 Week Range
71,980.00	70,130.00	71,364.37	71,449.41	24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GEMN	16:25:17	0.010000	70,354.41	USD

Price x Volume	Volume	Base Symbol	Related Pairs
913,891,437.54	12,865.15	BTC	BTCEUR	BTCGBP	ETHBTC

DOT Price (Polkadot) Approaches Key Level: Should Traders Brace for Sharp Drop?

01/05/2024 5:58am

NEWSBTC

Polkadot (DOT) is showing bearish signs below the $8 resistance against the US Dollar. The price could extend its decline if it fails to stay above $6.00. DOT is gaining pace below the $8.80 and $8.00 levels against the US Dollar. The price is trading below the $7.20 zone and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance at $6.50 on the 4-hour chart of the DOT/USD pair (data source from Kraken). The pair could continue to decline toward the $5.00 support zone. Polkadot Price Resumes Drop After a steady increase, DOT price faced resistance near the $7.60 zone. It formed a short-term top and started a fresh decline below the $7.00 level, like Ethereum and Bitcoin. There was a move below the $6.20 support zone. A low was formed near $6.03 and the price is now consolidating losses. It is slowly moving higher above the $6.35 level and the 23.6% Fib retracement level of the downward move from the $7.58 swing high to the $6.03 low. DOT is now trading below the $7.00 zone and the 100 simple moving average (4 hours). Immediate resistance is near the $6.50 level. There is also a key bearish trend line forming with resistance at $6.50 on the 4-hour chart of the DOT/USD pair. Source: DOTUSD on TradingView.com The next major resistance is near $7.00 or the 61.8% Fib retracement level of the downward move from the $7.58 swing high to the $6.03 low. A successful break above $7.00 could start another strong rally. In the stated case, the price could easily rally toward $8.20 in the near term. The next major resistance is seen near the $10.00 zone. More Downsides in DOT? If DOT price fails to start a fresh increase above $7.00, it could continue to move down. The first key support is near the $6.00 level. The next major support is near the $5.65 level, below which the price might decline to $5.00. Any more losses may perhaps open the doors for a move toward the $4.20 support zone or the trend line. Technical Indicators 4-Hours MACD – The MACD for DOT/USD is now losing momentum in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for DOT/USD is now below the 50 level. Major Support Levels – $6.00, $5.65 and $5.00. Major Resistance Levels – $6.50, $7.00, and $8.50.

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