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Polkadot was one of Tuesday’s biggest movers, as the token dropped to a six-week low in today’s session. Prices fell for a long-term support point of $5.60, as the global crypto market cap was once again 1% lower today. Avalanche also hit a price floor on Tuesday.
Polkadot ($DOT)
Polkadot ($DOT) was down for a second straight session on Tuesday, as sentiment in cryptocurrency markets remained bearish.
$DOT/USD dropped to a low of $5.61 earlier in the day, which comes less than 24 hours after trading at a high of $5.82.
As a result of the move, polkadot slipped to its weakest point since March 12, when price was trading at $5.47.
Today’s decline saw $DOT near a floor at $5.60, with bulls so far rejecting a breakout below this point.
At the time of writing, the token is trading at $5.68, which comes as the relative strength index (RSI) jumped from a floor of its own.
The index rebounded from a floor at 36.00, and as of writing, is tracking at 37.52.
Avalanche ($AVAX)
In addition to $DOT, Avalanche ($AVAX) was another notable mover on Tuesday, as the token fell to its own level of support.
Following a high of $17.06 to start the week, $AVAX/USD sunk to a bottom at $16.53 earlier today.
Tuesday’s decline saw bears attempt to take avalanche to a long-term price floor at $16.30, however they were unsuccessful, thus far.
Looking at the chart, and similar to what occurred with $DOT, the breakout was rejected as the RSI remained above a floor of 41.00.
As of writing, price strength is tracking at 41.27, with a ceiling of 43.00 a possible target for bulls looking to extend the current rebound.
Should this occur, there is a chance that $AVAX could reach $17.00