Largest Movers: DOT Drops to 6-Week Low on TuesdayMay 2, 2023
Polkadot was one in every of Tuesday’s greatest movers, because the token dropped to a six-week low in right now’s session. Costs fell for a long-term help level of $5.60, as the worldwide crypto market cap was as soon as once more 1% decrease right now. Avalanche additionally hit a worth ground on Tuesday.
Polkadot (DOT) 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 within the day, which comes lower than 24 hours after buying and selling at a excessive of $5.82.
Because of the transfer, polkadot slipped to its weakest level since March 12, when worth was buying and selling at $5.47.
At the moment’s decline noticed DOT close to a ground at $5.60, with bulls to date rejecting a breakout under this level.
On the time of writing, the token is buying and selling at $5.68, which comes because the relative energy index (RSI) jumped from a ground of its personal.
The index rebounded from a ground at 36.00, and as of writing, is monitoring at 37.52.
Along with DOT, Avalanche (AVAX) was one other notable mover on Tuesday, because the token fell to its personal stage of help.
Following a excessive of $17.06 to begin the week, AVAX/USD sunk to a backside at $16.53 earlier right now.
Tuesday’s decline noticed bears try and take avalanche to a long-term worth ground at $16.30, nevertheless they have been unsuccessful, to date.
Trying on the chart, and just like what occurred with DOT, the breakout was rejected because the RSI remained above a ground of 41.00.
As of writing, worth energy is monitoring at 41.27, with a ceiling of 43.00 a attainable goal for bulls seeking to prolong the present rebound.
Ought to this happen, there’s a probability that AVAX may attain $17.00
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