![Polkadot [DOT]: Is it the right time for swing traders to go short](https://i.headtopics.com/images/2022/8/30/cryptoamb/polkadot-dot-is-it-the-right-time-for-swing-traders-to-go-short-1564425922786144256.webp)
With the onset of the bear market, many short sellers have been trying to make a quick buck and are looking for a coin or a token to bet against. While betting against ETH and ADA may not be the best idea because of the upcoming Merge and hardforks, Polkadot does seem like the right […]
With the onset of the bear market, many short sellers have been trying to make a quick buck and are looking for a coin or a token to bet against.
Polkadot may be a safe bet when it comes to shorting a cryptocurrency, as things haven’t been looking so good for Gavin Wood’s coin at the moment. Thus, implying that the crypto community doesn’t seem to be that excited about discussing Polkadot and its future. The drop in the social media volume could indicate that the crypto community may have become indifferent toward DOT and this could be perceived as a bearish sign.The bad news doesn’t end there, however, Polkadot has also seen a significant dip in its transaction volume since June. And, it seems like fewer people are making transactions on this protocol.
After testing the $9.59 resistance level, the price has gone completely south. At press time, it was testing the $6.85 support levelThere is a possibility that the price will test the $6.23 support level again and there may be a chance for short goers to book a profit in case this event culminates.
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![Polkadot [DOT]: Will a new update translate into a new price uptick](https://i.headtopics.com/images/2022/8/28/cryptoamb/polkadot-dot-will-a-new-update-translate-into-a-new-price-uptick-1563829492984037377.webp?w=640)
Polkadot [DOT]: Will a new update translate into a new price uptickDOT, which is currently the world’s 11th largest crypto in terms of market cap, registered a sluggish performance last week. In fact, it fell by negative 5% over the last 7 days. At press time, DOT was trading at $7.06 with a market capitalization of $7,829,624,527. However, DOT developers recently pushed an update to the […]
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