Polkadot Price Plummets as Sellers Take Control

Polkadot (DOT) has been under significant pressure in recent days, falling by nearly 7% over the past week. The current price hovers around $0.766, with support levels coming into focus as the bearish trend deepens.

The decline in Polkadot's value puts sellers firmly in control, and traders are closely monitoring key resistance and support levels. Immediate support sits at $0.748, while resistance aligns with both the 20-day average and a bearish Ichimoku Kijun cluster near $0.827-$0.828.

The expected price range for the next 7 days is between $0.683 and $0.811, with a very high probability of further decline unless resistance at $0.827 is reclaimed. The ongoing low adoption and DeFi activity stalls have set the backdrop for the coming week, with persistent downside momentum dominating.

Polkadot has launched a public developer network (devnet) to give developers wider access to test upcoming production network features, but this may not be enough to shift the current negative outlook. The defense of current support will be critical as traders closely monitor key levels for signs of either exhaustion or further weakness.