Dot defends the $ 16.77 support region

The bearish atmosphere on the market continued, but Polkadot has been able to defend its critical support level of $ 16.77 $ 16.77 in the last 24 hours

The cryptocurrency market continued its declining mood in the last 24 hours, with Bitcoin slipping among the 38,000 mark. Ether also fell under the $ 2,500 mark after he rose to almost $ 2,700 yesterday before the big upgrade of the Ethereum network.

Polkadot was not disregarded in the declining performance, with the DOT currently sunk by more than 5% in the last 24 hours. However, the bulls were able to defend the critical level of support at $ 16.77, which could enable Dot a good performance as soon as the upward movement of the market is resumed.

However, it is unclear whether Dot can maintain this level of support for much longer. Analysts are not optimistic about the short -term development of the market.

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dot price view

The DOT/USD 4-hour chart is currently declining, with the price of cryptocurrency falling by more than 5% in the past 24 hours. The technical data are very bearish at the moment, but Polkadot has been able to defend its critical level of support in the past 24 hours.

dot/USD 4-hour chart. Source: Coinlyze

Although Polkadot has so far been able to defend its most important support brand at $ 16.77, it could lose support if the current downward cycle continues on the market and could fall towards the $ 15 brand. Unless there is an extensive market sale, the DOT/USD couple should stay away from the next great support at $ 13.47.

The MACD level is currently in the declining zone, while the simple sliding 4-hour 100 average is currently $ 14.19. If the situation changes and the market rally is resumed, Dot could try to exceed the resistance brand at 19.79 USD in the coming hours. The 22-dollar region could be the goal if there is a longer market rally.