Polkadot's price has dropped by 33% due to news of the Iran-Israel conflict. However, it found support at the 200-day moving average, indicating a potential period of consolidation correction.
Polkadot ’s price has recently undergone a significant 33% decline triggered by news of the Iran-Israel conflict on April 14th. However, the price found support at the crucial 200-day moving average , suggesting a potential period of consolidation correction .
This plunge breached several critical support levels and triggered a significant long-squeeze event in the perpetual markets, resulting in the liquidation of numerous long positions. The most likely outcome going forward is for the cryptocurrency to enter a consolidation stage within the pivotal price range, spanning from the dynamic support of the 200-day moving average to the crucial resistance at $9 in the medium term.of the 4-hour timeframe indicates that following an unsuccessful attempt to breach the $9 resistance region, DOT encountered heightened selling pressure, leading to a substantial decline.
However, the cryptocurrency exhibited a minor bullish reversal upon reaching the crucial $6 support zone, indicating the presence of demand at this level.
Polkadot Price Decline Iran-Israel Conflict Support Moving Average Consolidation Correction
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