Polkadot DOT/USD dips below resistance

DOT/USD Polkadot cryptocurrency recently reversed down from the resistance zone located between the key resistance level 0.1675 (which former monthly low from March, acting as the resistance after it was broken by the previous downward impulse from April) and the 38.2% Fibonacci correction of the previous downward impulse from last month.

Given the clear daily downtrend and the predominantly bearish sentiment that can be observed across the cryptocurrency market today – Polkadot prices can be expected to fall toward the next support level 14.50 (which has been reversing the price from February).

DOTUSD - Primary Analysis - May-05 1424 PM (1 day)

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