Polkadot Price Volatility: Rising Volume on Bearish Break Sparks Concern

Polkadot's price has been trading below its descending trendline since September 8. Despite this, the coin saw a surge in volume to $109 million, nearly 38% higher than the day before.

This unusual mix of rising volume on a bearish break rather than a bullish one caught analysts' attention. They checked what this volume surge means against the chart and found that Polkadot is now trading under both EMAs, a short-term bearish signal.

Polkadot's price has been down about 2.5% to $0.9898, with heavy long liquidations over the past 24 hours supporting the bearish case.