Polkadot fell below the support level at $ 16.05, as technical indicators highlighted more declines for the price in the upcoming trading sessions. Other altcoins like Maker are moving within fixed channels on the chart, and market leaders are waiting for more leads from BTC and ETH.

 

Polkadot (DOT) price analysis

 

Polkadot, the world’s fourth largest cryptocurrency, is trading at $ 15.7, down 8.6% in the past 24 hours. This decline was a sign of selling pressure that enveloped the market as the price failed to break above the $ 18.9 resistance. On the charts, the candlesticks moved below the 20-SMA (yellow) and 50-SMA (blue), signaling a bear market for DOT. Moreover, the indicators showed that bearish momentum was rising and prices could move lower on the charts.

The red bars on the MACD histogram rose as the Awesome Oscillator’s red bars went below zero.

Maker (MKR) price analysis

Maker is currently trading on the channel from $ 1,490.60 to $ 1,325.90 and continues its trend for the past five days. The bears were looking to reverse support at the time of this writing and some bullish action was recorded in the last trading session. However, further decline across the crypto market could lower the MKR price to $ 1,153.4, while the bullish scenario could result in an increase towards sudden resistance as expected.

See Also
Polkadot, Crypto.com Coin, Cosmos Price Analysis: January 14th

Bollinger Bands imply low volatility in price as the bands converge.

The Awesome Oscillator is neutral, but the momentum is weak.

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