Polkadot Price Plunges Below Key Moving Averages

Polkadot (DOT) is currently trading at $0.76, stuck beneath its major moving averages and struggling to attract buyers.

The chart shows a bearish alignment with DOT's price below its 7-day, 20-day, 50-day, and 200-day Simple Moving Averages (SMAs). The SMA 200 at $1.16 is 53% above the current price, which has stopped functioning as near-term resistance.

The momentum indicators are flatlined, with a MACD histogram reading of zero and an RSI of 36.72, indicating that buyers are watching but not acting.

The derivatives picture also looks bearish, with open interest shedding 3.77% in 24 hours and a taker buy/sell ratio favoring aggressive sellers over buyers.