Polkadot Price Hits Multi-Year Support in Oversold State; Rebound Imminent?

Polkadot price is down 2% in the last 24 hours as the crypto market witnessed renewed selling momentum during U.S. trading hours Wednesday. Leading cryptocurrencies, Bitcoin and Ethereum, also saw 2-4% declines, dropping to $54,700 and $2,351, respectively. The overhead supply pressure hints that the prevailing correction has not yet bottomed, and sellers could drive an extended downfall.