DOT Price May Tank to $3.50 as Bloodbath WorsensConsolidation Breakdown: DOT price loses dominance over the $4 level.
50-day EMA Rejection: Polkadot faces constant rejection from the 50-day EMA.
Critical Support: A downfall below $3.75 may plunge DOT to $3.50.
Triangle Pattern: DOT price recently broke down from a triangle pattern.
Bearish Pressure: High degree of bearish pressure warns of a potential drop to $3.
Lower Highs: DOT has been forming lower highs for several months.
Current Price: DOT is trading at $3.86, below the crucial $4 mark.
Bearish Engulfing: A 3.86% drop last night formed a huge bearish engulfing candle.
RSI Indicator: Daily RSI line crosses under the 14-day SMA, hinting at oversold conditions.
Bearish EMA: Both 50-day and 200-day EMAs are falling, indicating a bearish trend.
Support Levels: Upcoming support levels of $3.75 and $3.50 are under pressure.
Flip Side: A reversal will challenge the 50-day EMA and resistance trendline.