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- Polkadot price risks falling to $1.70 or lower amid bearish pressure.<\/li>\n
- Broader market weakness gives bears the advantage.<\/li>\n
- Technical indicators are also largely bearish.<\/li>\n<\/ul>\n
Polkadot is among the altcoins to trade in the red on Monday as current market weakness continues to hinder bulls.<\/p>\n
DOT, the blockchain interoperability protocol\u2019s native token, was at $1.83 and down 2% in the past 24 hours.<\/p>\n
With the broader market experiencing volatility amid macroeconomic pressures, DOT\u2019s performance has been underwhelming.<\/p>\n
Market weakness hinders DOT near 1.90<\/h2>\n
Polkadot\u2019s recent attempts to break above $1.90 have been thwarted by pervasive market weakness.<\/p>\n
The token has suffered downward action amid a bearish undercurrent across the crypto space.<\/p>\n
After briefly peaking near this level, DOT encountered stiff resistance. Price dropped to $1.83.<\/p>\n
Bulls risk giving up further ground as uncertainty brings low trading volumes and waning buyer interest.<\/p>\n
While price is 1.5% up this past week, it\u2019s down 18% in 30 days and 74% down in the past year.<\/p>\n
Short-term negatives like the disruption seen on Sunday are worth watching too.<\/p>\n
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Staking rewards on Polkadot follow a ~24-hour cycle called an “Era,” usually split between ~22K nominators.<\/p>\n
Yesterday, in Era #2035, an issue with an off-chain election tool limited the nominator set to just 3K, leading to higher individual payouts for those included. The issue\u2026<\/p>\n
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