DOT is Facing Significant Challenges

The price chart for DOT is currently exhibiting a descending triangle pattern, forming at the conclusion of a downtrend. This pattern is commonly interpreted as a bearish continuation signal. Should DOT breach the support line, which also coincides with the horizontal lower trend line, it could create a scenario where the price falls below $1.

At present, the outlook appears quite unfavorable, with the cryptocurrency displaying notable weakness.

For a more positive outcome, it's imperative for bullish market participants to intervene and successfully breach the upper falling trend line. By accomplishing this, they can negate the ongoing pattern and avert a potentially substantial price decline.