Polkadot could continue its drawdown following these signals
ambcrypto.comPolkadot slipped below its lower trendline following a descending triangle breakdown. As a result, DOT has shed over 11% of its value over the last seven days and was the coin that made most weekly losses, among the top the coins by market cap.
On the charts, DOT was being help up by the 4-hour 200-SMA (green) but remained exposed to an extended sell-off following bearish signals along the Awesome Oscillator and MACD. At the time of writing, DOT traded at $45.5, down by 1% over the last 24 hours.
Polkadot 4-hour Chart
Source: DOT/USD, TradingView
DOT’s descending triangle took shape after record levels were breached at $55. Once a breakdown was observed from the bearish pattern, DOT declined by nearly 14% and breached its bottom trendline which
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