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Polkadot: Is the tempo right for DOT traders to go long

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While Polkadot [DOT] ended July strongly, the start of August was on the opposite side. On the last day of the previous month, DOT increased from $8.2 and went as high as $9.11—driving good profits for its short-term investors.

However, DOT has reversed to a downward trajectory since 1 August and has lost around 9.64% of its previous day’s value. At press time, DOT’s price was $7.83 as per CoinMarketCap.From the charts, DOT had been holding on to its $8 support after losing it at $8.63 and $8.15.

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