Polkadot price analysis: DOT/USD is bearish for the next 12 hours

TL;DR Breakdown Polkadot price analysis is bullish today.PolkaDot (DOT) is currently trading at $29.67.Polkadot price has shot up dramatically in the last few days. We anticipate that the market will retrace over the last 24 hours after establishing a somewhat higher high yesterday. As a result, we expect DOT/USD to continue declining and reverse more of its recent advances. Polkadot price movement in the last 24 hours: Polkadot drops to $28 We expect a bearish movement in DOT/USD today. Over the past few days, Polkadot has been consolidating its gains. We anticipate that DOT/USD might retrace over the next 24 hours but remain within its most recent trading range. This will likely be a period of sideways movement for this market. If the price of Polkadot falls below $28, we think it will retrace back to its 20-day EMA of $26. On the other hand, if Polkadot establishes a new high above $30, a resistance test at $34.50 is expected before the trend reverses. If the decline in DOT/USD is allowed to continue, it will most likely consolidate sideways for the next several hours. We anticipate that this market will breakout either up or down within the following 24 hours.    DOT/USD 4-hour chart: DOT set for further retracement? We may observe a sideways movement in the Polkadot market over the next several days, as evidenced by the 4-hour Polkadot price analysis chart. DOT/USD 4-hour chart. Source: TradingView The pri...