PolkaDOT comes crashing down

DOTUSDT

Polkadot experienced a sharp drop below the crucial support level of $5.15 on June 5 but recovered strongly on June 6, surpassing the breakdown level. However, the bulls were unable to sustain the recovery on June 7, as the bears sold during the minor rally.

Sellers will seek to strengthen their position further by pulling the price below $4.90, which could result in a nosedive for the DOT/USDT pair towards $4.22. On the upside, the first significant resistance to monitor is the 20-day EMA ($5.29). A rally above this level would indicate a potential reduction in selling pressure, potentially providing momentum above $5.56.