Polkadot’s DOT price has declined by 4.27% to $2.91, despite the announcement of the Version 2.0 upgrade. The broader cryptocurrency market is experiencing weakness, influenced by the Federal Reserve’s hawkish stance. This market sentiment has overshadowed the positive news surrounding the upgrade.
Technical indicators are currently signaling oversold conditions, which may suggest that the price could stabilize or rebound in the near future. However, the prevailing market dynamics continue to exert pressure on DOT’s value.
Investors are closely monitoring the situation as the Version 2.0 launch was anticipated to provide a boost to Polkadot’s performance. The failure to offset the broader market weakness raises concerns about the sustainability of the price recovery.
As the crypto market reacts to external economic factors, the performance of DOT will likely remain volatile. Traders are advised to keep an eye on both technical indicators and market sentiment in the coming days.
