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Polkadot, Bitcoin Cash, Avalanche Price Analysis: 27 October
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As Bitcoin hits the $58000-mark, several altcoins witnessed a pullback. Altcoins like Bitcoin Cash and Avalanche flashed bearish signs and registered double-digit losses on their daily charts, while Polkadot saw a 4.3% decline over the past 24 hours.
TradingView, DOT/ USDT
The altcoin traded at $42.09 after noting a nearly 50.53% gain over the last month. Since the inception of the month, DOT price action has displayed a bullish trajectory by oscillating in an ascending wedge pattern. This rally, coupled with the anticipation of the Parachain launch in November, has somewhat caused disappointment for the DOT bears. However, key technical indicators pointed towards a preference for the sellers in the near term.
The Relative Strength Index
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