Polkadot Price Analysis: DOT bears retests $25 as support, targets $23.50 next?

TL;DR Breakdown Polkadot price analysis is bearish for today.DOT/USD dropped to the $25 regionDOT saw a quick spike lower to $28. On our Polkadot price analysis, the coin is trading bearishly after the market retraced quickly to the $22 mark overnight. DOT/USD was able to contest the bearish pressure and regain the $26 support. We are expecting the coin to slide downwards in the next 24-hours as bears exert a pullback further down from the daily high at $35. The cryptocurrency market traded with a strong bearish momentum over the last 24 hours. Bitcoin is down by 12 percent, while Ethereum remained fell violently by 14 percent. Meanwhile, Solana (SOL) which has remained the best performing altcoin for the most part of the week fell down by 10 percent to the $162 mark.  Polkadot price movement in the last 24 hours: Polkadot retests $25 as support after overnight downtrend DOT/USD traded in a range of $25 – $28, indicating mild volatility over the last 24 hours. The trading volume went up by 114 percent and totals $5.523 billion, while the total market cap trades around $26.52 billion, ranking the coin in 10th place overall. DOT/USD 4-hour chart: DOT targets $23.50 next? On the 4-hour Polkadot price analysis chart, we can see the DOT/USD price preparing for a rally above $26 support after undergoing hours of strong bearish pressures between $25 – $28. DOT/USD 4-hour chart. Source: TradingView Polkadot has struggled t...