Polkadot is Dead?
In recent days, Polkadot investors have been watching in horror as the charts show an ominous sign: a classic descending triangle pattern, historically known for signaling massive drops.
The current price action around 4.18, after failing to hold the 4.20 peak, is showing a series of lower highs and a flat support zone—a textbook recipe for a catastrophic breakdown. This setup has all the makings of a “Dead Cat Bounce”—a temporary and deceptive rebound before an even greater plunge.
Bearish Signals Mount:
Decreasing volume: Buyers are vanishing from the scene.
No catalyst in sight: No updates or positive news for Polkadot.
Sentiment shift: Traders moving their funds elsewhere, searching for safer havens.
Conclusion:
While some die-hard believers hold on to the dream of Polkadot’s revival, the technical indicators and the psychological mood of the market tell a different story. We’re witnessing the possible beginning of the end for Polkadot—a project once praised for its promise of blockchain interoperability.
The question remains:
Is Polkadot truly dead?
