The Polkadot price went parabolic since the beginning of December and smashed the monthly highs above $30
The asset is currently encountering a slight pullback which can be seen as a slight correction or relaxation, before the next leg up
Also, the chart so mentions the formation of the Cup, in Cup and handle pattern, which signifies a decent drop incoming shortly
Adding to the substance, the asset in the daily time frame is about to encounter a Death cross, wherein the 50-day MA is about to cross the 200-day MA and move towards the south. And hence dragging the price by nearly 15% to 20%.
Yet the asset could flip the downward trend very soon and attempt to close the yearly trade on a bullish note.