Polkadot price analysis: DOT must counter bears to sustain above $29

TL;DR Breakdown Polkadot price analysis shows the bearish momentum has increased tremendously.Price has dropped down to the $29.05 level.Support is still standing strong at $26.3 The Polkadot price analysis is going in the bearish direction as the price underwent a significant decline during the day. The price levels are dropping on a massive scale as the bearish momentum is growing at a high rate. Earlier the day, there were some bullish retraces as well which tried to break through the bearish spell. But today, the cryptocurrency has been subjected to loss again as the price has lowered to $29 again. DOT/USD 1-day price chart: Cryptocurrency under the bearish domain as price drops heavily The 1-day Polkadot price analysis is showing that a bearish trend has been following through the day. The price has decreased tremendously as the bears have been able to secure their lead on the price chart. The price has gone down due to the downtrend and is resting at the $29.14 spot. The moving average (MA) in the price chart is still at a stable position as it is found at the $32 level for the day. DOT/USD 1-day price chart. Source: TradingView The volatility has been on the increasing side for the day as well which should be taken as a negative indication for the future. The Bollinger bands indicator is giving out the following values; the upper value is at $38 whereas the lower value is at $26. The Relative Strength Index (RSI) score...