Polkadot (DOT) remained under crucial selling pressure, as bulls struggled to break above the $7.7 resistance level.
The bullish bounce by Polkadot's DOT from the $6.6 support level that took it above the $7.7 resistance was short-lived, with bears quickly reclaiming the resistance level.
DOT had been on an extended dip after a price rejection at the $9 price level before bulls halted the selling wave at the $6.6 support level. However, the short-term conviction for DOT seems to have shifted bearish as price faltered again at the $8.5 price zone. This created a descending trendline on the four-hour timeframe.
BNB's price correction could see it reach an April low, if sellers continue to dominate its price action.
SOL flashed bullish signals, as buyers look to make strong comeback from selling pressure.
FET struggled to sustain its range breakout with selling pressure pushing the AI-token back into the price range.
ARB sellers broke a key bullish support level, as bearish sentiment overwhelmed spot and futures market.
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The initiative aims to incentivize community participation and reward early supporters of the project, but the community isn't too enthused.
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