Polkadot price is on pace to close with the worst daily decline since September 21, 2020. DOT testing 0.382 Fibonacci retracement level at $27.45. Daily volume may close above average for the first time since February 28. Polkadot price is breaking down from a sideways channel on explosive volume. If DOT closes at or near the lows, it will be the worst daily decline since September 21, 2020. It is currently on pace for the 2nd worst weekly loss since trading began in August 2020. This is an abrupt change in the price character that has reigned for the better part of a month. Polkadot price correction could just be beginning DOT quickly tested the 0.382 Fibonacci retracement level of the September 2020 crash at $27.45 before mildly rebounding. Today’s low is also just shy of the February low at $26.56, which would represent a decline of $30% from Monday’s high. If buyers do not enter the market, look for DOT to collapse to the 0.50 retracement level at $22.89 in the coming days, followed by a test of the 100-day simple moving average (SMA) at $21.61. DOT/USD daily chart To invalidate the emerging bearish outlook, DOT buyers will need to lift the price back into the sideways channel and above the 50-day SMA at $31.14 on a daily close. A breakout above $40.00 will clear Polkadot price for a test of the all-time at $42.20. Today’s price action reminds traders about the risks associated with speculating in the cryptocurrency markets and reinforces the value of keeping a big-picture perspective during high volatility events. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/CAD one-month risk reversals jump to most bearish in two weeks FX Street 1 year Polkadot price is on pace to close with the worst daily decline since September 21, 2020. DOT testing 0.382 Fibonacci retracement level at $27.45. Daily volume may close above average for the first time since February 28. Polkadot price is breaking down from a sideways channel on explosive volume. If DOT closes at or near the lows, it will be the worst daily decline since September 21, 2020. It is currently on pace for the 2nd worst weekly loss since trading began in August 2020. This is an abrupt change in the price character that has reigned for the better… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.