DOT started August with a drop: How can investors turn this into an opportunity?

Polkadot (DOT), one of the favorite altcoins in the crypto money market, is preparing to test the support point at $ 4.30. The price is currently struggling to hold above the $5 level. However, technical indicators are showing a bearish on the horizon.
DOT is trading in a downtrend within the triangle pattern it has formed on the daily chart. Although the price made moves to break the $7.55 resistance, it was unsuccessful and fell 33%.
DOT may continue to decline
Also, price action formed a consolidation phase between $5 and $5.53 over the past month. Higher highs were rejected due to stronger sellers and the altcoin is down 0.59% in the last 24 hours.
If the price manages to climb above the $5 level and hold there, the $5.53 resistance could be retested. However, for this, the bulls need to take a stronger stance.
On the other hand, if there is a close below $4.90, the price could quickly depreciate by 15% and slide back to the $4.30 support.
Of the technical indicators, the stochastic indicator is displaying a double bottom formation in the oversold region, signaling a potential rebound in action. However, the RSI indicator is falling from the midline towards the oversold zone.
Therefore, technical indicators point to a strong bearish for DOT price.
In summary, DOT price could decline to $4.30 after a 15% drop if it fails to hold above $5. However, if we take an optimistic view, this decline can create a good buying opportunity for investors.
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