The Polkadot price has yet to break above crucial resistance levels, and on-chain metrics for DOT aren’t suggesting much respite for holders.
The global crypto market cap took a dip below the $1 trillion mark on Nov. 8 as most of the top cryptocurrencies reversed their recent gains. Bitcoin, Ethereum, and most of the top altcoins, including Polkadot, traded in red once again.
At the time of press, the DOT price oscillated near the $6.20 mark, already down 10% since the start of the weekly candlestick.
Polkadot price struggles
Despite the crypto market’s bullish momentum (up until yesterday), there wasn’t much keeping the Polkadot price going. Recently, the Web3 Foundation tweeted, arguing that DOT has morphed from a security into software.
The tweet caused a significant stir in the market, aiding DOT in a nearly 15% price rise between Nov. 4-Nov. 6.
Even though Polkadot remained in the news, its weighted social…
