Since the price crashed to its local bottom last month, DOT has been struggling to regain momentum daily. It has recovered briefly and now under retracement as it posted an 11% gain in the past week of trading.
The recent price retracement has brought a slight gain to Polkadot price over the past week. However, the momentum may not last long as the buying pressure is not strong enough to bring the bulls back on track.
As seen on the daily price chart, DOT’s demand level appears low at the time of writing but it may later increase if volume keeps flowing into the market daily. If not, the market may continue to supply until it finds a threshold.
Considering the early August’s crash, which plunged the price to a current yearly low of $3.6, DOT is suggested to have reached a bottom after exhausting selling pressure. Observing the market since then, market volatility has been very choppy.
Despite that, the overall market bias…
