Polkadot was one of Tuesday’s biggest movers, as the token dropped to a six-week low in today’s session. Prices fell for a long-term support point of $5.60, as the global crypto market cap was once again 1% lower today. Avalanche also hit a price floor on Tuesday.Polkadot was down for a second straight session on Tuesday, as sentiment in cryptocurrency markets remained bearish.
DOT/USD dropped to a low of $5.61 earlier in the day, which comes less than 24 hours after trading at a high of $5.82. As a result of the move, polkadot slipped to its weakest point since March 12, when price was trading at $5.47.Today’s decline saw DOT near a floor at $5.60, with bulls so far rejecting a breakout below this point.
At the time of writing, the token is trading at $5.68, which comes as the relative strength index jumped from a floor of its own.In addition to DOT, Avalanche was another notable mover on Tuesday, as the token fell to its own level of support.Tuesday’s decline saw bears attempt to take avalanche to a long-term price floor at $16.30, however they were unsuccessful, thus far.
As of writing, price strength is tracking at 41.27, with a ceiling of 43.00 a possible target for bulls looking to extend the current rebound.Register your email here to get weekly price analysis updates sent to your inbox:
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