Polkadot ($DOT) trades in the red after a very bullish week. $DOT made an excellent run to reach the crucial $5 level, but its progress has stalled. Despite its inability to make it, $DOT is up by over 10% in the past week.
After a very bullish week, $DOT is trading in the red in the current session. The previous week, $DOT made good progress in chasing its $4.50 level but, unfortunately, could not continue the momentum, closing the week at $4.31. $DOT began the current week positively, registering a 3.48% increase, pushing it above its 50-day SMA.
A Very Bullish Week for $DOT
$DOT ended the previous in the red after fighting hard to get to the $4.50 level. Despite making a valiant attempt and getting close on Friday (20 September), $DOT could only reach $4.49. The price took a further tumble over the weekend, eventually closing the week out at $4.31, a 3.26% decline.
Polkadot ($DOT) Reaches $4.50
While ending the previous week in the red, $DOT started the current week with a bullish bang. On Monday, $DOT registered a 3.48% increase, pushing it above the 50-day SMA and settling at $4.46. $DOT finally rallied on Tuesday, rising above $4.50. After a 4.04% increase, it settled at $4.64.
A volatile session on Wednesday saw sellers try to push $DOT below $4.50 after reaching a day high of $4.77. Buyers were, however, able to fight back, allowing $DOT to remain at $4.64.
Market Sentiment Turns Positive
Sentiment rose on Thursday which saw the entire market rally. Polkadot ($DOT) followed suit, gaining almost 4% and pushing $DOT to $4.81, and optimistic onlookers expected $DOT to break above $5. On Friday, Polkadot ($DOT) tested resistance at $5, and it rose to a day high of $4.96. $DOT could not continue its upward trend, closing the session at $4.89.
Sellers Thwart Progress
Saturday saw $DOT trading in the red as buyers lost momentum and sellers took control of the session. $DOT fell to $4.80. The current session sees $DOT in the red again. $DOT is down 0.89%, currently trading for $4.77.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.