Polkadot Price Stuck at $0.78 as Breakdown to $0.75 Looms

Polkadot's price has been stuck at $0.78 since August 13, and market analysts are warning of a potential breakdown to below $0.75.

The asset is currently trading 34% below its 200-day moving average, which is a significant structural gap that doesn't close overnight.

Market volume has collapsed to just $2.5 million over the last 24 hours, indicating that capital has left the building.

The technical picture is bearish, with all short-term moving averages acting as ceilings and a MACD histogram that has gone flatline.

Whales are holding long positions at 68.5%, but derivatives positioning suggests a potential squeeze setup that could punish crowded longs brutally.