PolkaDOT could rest at support $5.93

DOTUSDT

Polkadot experienced a sharp decline and dropped below the uptrend line on April 19, indicating aggressive selling by the bears. Although the bulls attempted to push the price above the 20-day EMA on April 20, the long wick on the candlestick suggests that the bears successfully protected the level, initiating a downward move towards the 200-day SMA ($5.93).

Buyers are expected to fiercely guard the zone between the 200-day SMA and $5.70, as failure to do so may intensify selling and cause the DOT/USDT pair to plummet to $5.15. However, this bearish view will be invalidated in the near term if bulls push and sustain the price back above the uptrend line.

Let me know what you think!
Follow me for more TA!