Polkadot (DOT) price has been producing lower lows for nearly three months and shows no signs of breaking out. But as DOT trades around the $4 psychol
Polkadot price trades below a declining trend line for the third consecutive month. A decisive flip of the $3.90 level will trigger an uptrend, but a rejection could knock DOT lower. A pullback to $3.70 is likely to come first before a retest of $4, $4.20 and $4.31 barriers. ogical level, investors should note that the possibility of a volatile move.
Considering the Relative Strength Index and its position below the 50 level, the chances of rejection are higher. As a result, investors should expect a minor pullback to $3.70 from Polkadot price. Around this level, DOT is likely to consolidate; based on the sidelined buyers that pour in, an uptrend is likely to begin. But if the bullish weekend rally fizzles out, the resulting bounce is likely going to be weak, causing Polkadot price to stay capped below $3.90.
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