Polkadot's price has experienced a decline of 4.31% over the past 24 hours, causing investors to reassess their expectations for the cryptocurrency.
The recent classification of Polkadot as a digital commodity by the SEC has led to some market volatility, with prices fluctuating between $1.40 and $1.32.
Technical indicators such as the Moving Average Convergence Divergence (MACD) and Chaikin Money Flow (CMF) are showing signs of bearish momentum, with some suggesting that a deeper correction may be ahead.