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Polkadot, Solana, Bitcoin Cash Price Analysis: 9 December
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The broader market continued to flash a bearish outlook as the RSI of altcoins like Polkadot, Solana, and Bitcoin Cash strived to cross the midline. Furthermore, the near-term technicals for all these cryptos preferred the bears and correlated with the broader trend.
Polkadot (DOT)
Source: TradingView, DOT/USDT
DOT bears accelerated their bearish swing over the past month after poking its ATH on 4 November. It downturned after forming a descending channel (yellow). Consequently, the alt saw an atrocious 46.6% 30-day and 22.3% weekly decline in its value.
After a down-channel breakout, the bulls tried to uphold the $34.87 eight-week resistance, but their rally was short-lived as the bears breached it after a steep plunge on 3 December. This
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