index
Polkadot started the week with a volatile session, with the price fluctuating between $7.78 and $7.37 before settling at $7.63. After falling significantly the next day in volatile markets, $DOT is currently trading at $7.09.
After starting the week on a positive note, $DOT failed to maintain its bullish trend and is currently trading at $7.09. Despite significant declines during the week, $DOT is barely holding above $7.
fight between buyer and seller
A fight between $DOT buyers and sellers has led to a volatile trading week for the project. $DOT started the week on a high note, with the coin reaching a high of $7.78 and a low of $7.37 in a tumultuous session. Polkadot recovered the session and settled at $7.63. After failing to hold the $7.60 level, $DOT fell significantly on Tuesday, eventually settling at $7.36. Buyers seemed to have regained control on Wednesday, with $DOT ending the session at $7.56, but hope was lost on Thursday when sellers lowered the price to $7.17. $DOT continued its downward trend on Friday, falling below $7 to close at $6.97.
$DOT regained strength on Saturday and reversed the bearish trend as the price found support at $7 several times, ending the session at $6.99. Polkadot is trading at $7.09, down 7.21% over the past 7 days.
Overall, $DOT is at a critical juncture. If sellers reduce the price below $7, $DOT may fall to the $6.40 support level. A potential recovery could be possible if buyers regain control and $DOT stays above $7.
Polkadot celebrates milestone anniversary
On May 26th, Polkadot celebrated its 4th anniversary. Since its inception, blockchain has become a leading network in terms of speed and scalability, and its governance token, $DOT, remains one of the only digital assets not considered a security by the U.S. Securities and Exchange Commission.
After receiving the Join-Accumulate Machine (JAM) proposal in early May, the Polkadot community approved the JAM upgrade with overwhelming support of over 31 million DOT tokens.
Disclaimer: This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
Investment Disclaimer
