The Polkadot (DOT) price recently failed in its attempt at recovery, with the altcoin experiencing a correction of over 12% in the last two days.
This decline has brought DOT close to a potentially bearish event that could further impact its price.
Polkadot Seeks a Bullish Turnaround
Currently trading under $9, Polkadot is striving for a comeback, though the odds for recovery appear slim. The token’s value remains significantly lower than its October 2023 levels.
Despite a recent rally, DOT has not returned to the highs seen in the previous year, which may deter new investors from entering the market, limiting the asset’s recovery potential.
The current market dynamics show Polkadot facing more bearish than bullish influences. The Relative Strength Index (RSI)—a momentum oscillator that measures the speed and change of price movements—remains in the bearish zone, indicating that…
