The price is still sitting on an important support level!

DOT has been trending down over the past week. The price is still sitting on an important support level in the range of $5.20-$5.25, and there is no sign of positive reaction and price growth from this level. Last week, an uptrend line was broken to the bottom, signaled by the RSI indicator's negative divergence. Only the specified support level is considered the last valid short-term support for the short term.

If the selling pressure increases on Polkadot, by breaking this support, the price can continue down to the $4.50-$3.60 range, and the bottom of the descending channel can be fake broken. As soon as the price hits the indicated monthly support, we can expect a strong positive reaction. Considering that the price of the Polkadot currency has reached good support levels, there is a possibility that some market whales will take action to activate the loss limit of buying transactions and fake breaks. For a less risky situation, you should wait until the break of the new downward trend line and the confirmation of the downward angle pattern.