Polkadot ($DOT) Struggles to Gain Ground While the Crypto Market Recovers

The crypto market has made significant strides since the recent downturn. Bitcoin has been holding strong above $65,000, and altcoins have improved markedly.

Cryptocurrency prices have seen better days following recent losses. While Bitcoin ($BTC) has made significant strides, rising 9.8% from its local bottom nine days ago, other coins like Polkadot ($DOT) have not fared as well.

As the crypto market recovers, Polkadot battles to get ahead. The cryptocurrency had a volatile week, wiping out most of the gains it made the previous week.

After rising to $6.50 on Monday, strong resistance at the level saw $DOT begin the week at $6.49. Bearish pressure on Tuesday saw the cryptocurrency drop to $6.14, but demand for $DOT at a low price saw it close the session at $6.34.

Buying pressure on Wednesday tried to push the price past $6.50 once more, but it was ultimately unable to do so.

$DOT began Thursday’s session trading at $6.35. Buyers attempted to push the price above the 50-day SMA but could not. Sellers took control of the session, lowering the price to $6.09. While $DOT received severe pressure from sellers on Friday, buyers reversed the bearish sentiment and pushed the price up by 4.27%. $DOT settled at $6.35 on Friday.

Saturday’s session saw buyers and sellers battle it back and forth, ultimately leaving $DOT at $6.37.

At the time of writing, $DOT traded at $6.25. $DOT is up 0.42% on the seven-day charts and 11.50% over the past month.

The above is the detailed content of Polkadot ($DOT) Struggles to Gain Ground While the Crypto Market Recovers. For more information, please follow other related articles on the PHP Chinese website!