The Polkadot price was able to stay above $7.17 for a short time and thus defend the support. However, the price broke this support within 14 days. A weekly candle has closed below support. The bulls then attempted to regain support. However, this failed, which is why the Polkadot price continues to fall steadily this week. With support unlikely to be recaptured now after failing last week, we now expect price to target the next support.
The next major support zone is between $3.86 and $4.50. With no major support ahead of this, we anticipate the Polkadot price to decline about 40% in the near future. Thus he would reach the support zone. Whether this will be the bottom or not remains to be seen. There are chances that this support zone will also be broken sooner or later.
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