{"id":149127,"date":"2023-09-04T01:30:26","date_gmt":"2023-09-03T20:00:26","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=149127"},"modified":"2023-09-04T01:30:26","modified_gmt":"2023-09-03T20:00:26","slug":"polkadot-why-you-need-to-watch-out-for-dots-move-to-4-6-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/polkadot-why-you-need-to-watch-out-for-dots-move-to-4-6-crypto-news\/","title":{"rendered":"Polkadot: Why you need to watch out for DOT&#8217;s move to $4.6 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2021\/12\/Akashnath-pfp-80x80.jpeg\" class=\"avatar pp-user-avatar avatar-48 photo \" height=\"48\" width=\"48\" \/><\/p>\n<p>Journalist<\/p>\n<\/p><\/div>\n<p>\t\t\t\t\t\t\t\t<span class=\"mvp-post-date updated\">Posted: September 4, 2023<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span><\/p>\n<\/p><\/div>\n<div>\n<p><i>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n<ul>\n<li><em>Polkadot has a bearish structure across higher and lower timeframe charts.<\/em><\/li>\n<li><em>A move to the $4.4-$4.6 region was possible but would be an opportunity for short-sellers to re-enter the market.<\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/polkadot\" data-wpel-link=\"internal\">Polkadot [DOT]<\/a> saw a bullish market <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/has-polkadot-taken-the-first-step-towards-5-5\/\" data-wpel-link=\"internal\">structure break<\/a> on the lower timeframe a few days ago. However, the bounce lost momentum at $4.8 and has since fallen below the $4.3 support. This showed that the temporary respite from selling pressure was a ruse.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Read <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/polkadot-price-prediction\" data-wpel-link=\"internal\">Polkadot\u2019s [DOT] Price Prediction<\/a> 2023-24<\/p>\n<hr \/>\n<p>The momentum was bearish once more, and the drop below $4.3 was a sign of intent from the sellers. Where is the next higher timeframe support zone that the bulls can look to make a stand at?<\/p>\n<h4>The breach of the HTF bullish order block meant sellers were in the driving seat<\/h4>\n<div id=\"attachment_340583\" style=\"width: 1950px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-price.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-340583\" class=\"size-full wp-image-340583\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Polkadot [DOT] saw a short-term bull trap at $4.6 and rejection, more losses to follow\" width=\"1940\" height=\"1099\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-price.png 1940w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-price-300x170.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-price-1024x580.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-price-768x435.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-price-1536x870.png 1536w\" data-lazy-sizes=\"(max-width: 1940px) 100vw, 1940px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-price.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-340583\" class=\"size-full wp-image-340583\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-price.png\" alt=\"Polkadot [DOT] saw a short-term bull trap at $4.6 and rejection, more losses to follow\" width=\"1940\" height=\"1099\" \/><\/a><\/p>\n<p id=\"caption-attachment-340583\" class=\"wp-caption-text\">Source: DOT\/USDT on TradingView<\/p>\n<\/div>\n<p>On the 1-day chart, Polkadot stood at $4.28 at the time of writing. The $4.56 (dotted orange) highlighted a lower high from the 4-hour chart, which was beaten on Monday 28 August. However, the bulls were unable to sustain the move and the bears seized control at the $4.8 mark.<\/p>\n<p>The $4.27 level represented the low of the bullish order block on the 1-day chart. On Friday, 1 September, DOT closed a daily session below it. This flipped the order block to a bearish breaker, and meant that short-selling opportunities could arise should DOT bounce toward the $4.4-$4.6 region.<\/p>\n<p>The Fibonacci extension levels showed that sub-$4 prices were a strong possibility for Polkadot in Q4 2023. The 23.6%, 50%, and 61.8% extension levels lie at $3.894, $3.495 and $3.317 respectively. Given the downtrend on the 1-day chart and the bearish market structure, it was likely that DOT would fall toward the $3.5 and $3.3 levels in the coming months.<\/p>\n<h4>The market sentiment was in bearish favor- have things changed?<\/h4>\n<div id=\"attachment_340582\" style=\"width: 1929px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-coinalyze.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-340582\" class=\"size-full wp-image-340582\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Polkadot [DOT] saw a short-term bull trap at $4.6 and rejection, more losses to follow\" width=\"1919\" height=\"1097\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-coinalyze.png 1919w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-coinalyze-300x171.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-coinalyze-1024x585.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-coinalyze-768x439.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-coinalyze-1536x878.png 1536w\" data-lazy-sizes=\"(max-width: 1919px) 100vw, 1919px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-coinalyze.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-340582\" class=\"size-full wp-image-340582\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-1-DOT-coinalyze.png\" alt=\"Polkadot [DOT] saw a short-term bull trap at $4.6 and rejection, more losses to follow\" width=\"1919\" height=\"1097\" \/><\/a><\/p>\n<p id=\"caption-attachment-340582\" class=\"wp-caption-text\">Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinalyze.net\/polkadot\/open-interest\/\" data-wpel-link=\"external\">Coinalyze<\/a><\/p>\n<\/div>\n<p>On 31 August, when DOT from $4.45 to $4.26, the Open Interest soared higher. This showed short sellers entering the market in large numbers and signified intense short-term bearishness.<\/p>\n<hr \/>\n<p style=\"text-align: center\">How much are <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/100-dot-to-usd\" data-wpel-link=\"internal\">1, 10, or 100 DOT worth<\/a> today?<\/p>\n<hr \/>\n<p>In the past 48 hours, DOT registered a bounce close to 3% higher. Yet, the spot CVD has been in a downtrend during this time.<\/p>\n<p>It was evidence of continued selling pressure on the token and signaled the absence of strong buyers, which meant Polkadot was likely to drop lower on the price chart.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Journalist Posted: September 4, 2023 Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. Polkadot has a bearish structure across higher and lower timeframe charts. A move to the $4.4-$4.6 region was possible but would be an opportunity for short-sellers to re-enter the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":149128,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-149127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=149127"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149127\/revisions"}],"predecessor-version":[{"id":149130,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149127\/revisions\/149130"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/149128"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=149127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=149127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=149127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}