Polkadot price is locked in a bearish pennant, awaiting a breach below to $31.61.

As the decline enters its next cycle, the price of polkadot remains under pressure.
The DOT price appears to be breaking down from a pennant and heading around $37.03.
Bears will break over $37.03 and open up further room to fall to $31.61 as a result of the breakout.

As bears gather momentum for another bearish break of $37.03, the Polkadot (DOT) price shows little indications of the slump ending anytime soon. Bulls have backed off on the DOT price as the Relative Strength Index (RSI) sank lower into the oversold territory, but there are no signs of a bullish counter-move in sight. Bears are expected to break through $37.03 and drop another 15% to $31.61.

Another 15% of depreciation might be held by a polkadot price adjustment.

After achieving a new all-time high of $55 at the end of October and then falling roughly 20%, the Polkadot price has had a rough November. A bearish pennant price pattern is indicating that it will break below $37.03 and begin a new downleg. The above 55-day Simple Moving Average has given further weight to the downturn, capping it.