|All Time High:|
|Market Cap: |
|The price of #DOT today is $6.83 USD.|
The lowest DOT price for this period was $0, the highest was $6.83, and the current live price for one DOT coin is $6.82718.
The all-time high DOT coin price was $55.07.
Use our custom price calculator to see the hypothetical price of DOT with market cap of ETH or other crypto coins.
|The code for Polkadot is #DOT. |
Polkadot is 2.5 years old.
|The current market capitalization for Polkadot is $7,315,240,199.|
Polkadot is ranked #15 out of all coins, by market cap (and other factors).
|The trading volume is very large during the past 24 hours for #DOT.|
Today's 24-hour trading volume across all exchanges for Polkadot is $170,008,946.
|The circulating supply of DOT is 1,071,488,452 coins, which is 84% of the total coin supply.|
|DOT is the native coin for the Polkadot blockchain.|
View the full list of Polkadot blockchain tokens.
|DOT is well integrated with many pairings with other cryptocurrencies and is listed on at least 70 crypto exchanges.|
View #DOT trading pairs and crypto exchanges that currently support #DOT purchase.
Let’s Talk Polkadot OpenGov (Part I)
The current Polkadot governance model was designed with the ultimate goal of ensuring consensus and automatic enactment of any changes based on community decision. Composed of three collectives that have ensured that necessary legislation is initiated (Council), discussed and enacted successfully or rejected (Democracy module), and executed in a speedy way if urgent (Technical Committee), Polkadot stakeholders have worked in coordination for more than two years discussing and stewarding the network’s direction. Since the very first governance proposals were put up for discussion, the community already began thinking about alternatives and possible new designs to counteract some identified weaknesses in the model. Many community members have already identified the lack of participation as its weakest point. Others felt that the Council was the weakest aspect, arguing that, even if Council were to grow in number, this form of representation had no place in a decentralized on-chain governance system. Many community members, despite being able to delegate voting power and use conviction voting, also noticed a low representation of smaller token holders. Following the recent launch of parachains and the completion of Polkadot’s multistage launch process, in the coming weeks, the community will have the opportunity to vote on a proposal for the first major changes to Polkadot’s governance design, proposed first for deployment...
Polkadot 2022 Roundup
This year, while the industry slid headlong into yet another crypto winter, the Polkadot community was busy building and launching the largest and most diverse ecosystem of layer-1 blockchains in the world, with several core technologies rolled out to propel the ecosystem forward into 2023. With enough happening in the Polkadot ecosystem in 2022 to practically fill a book, it’s no easy task to sum up the past year of activity around the core technology and broader community, but as we move forward into 2023 let’s look back at some of the most important trends and milestones for Polkadot in 2022. — 💥 The birth of Web3’s leading ecosystem - The Polkadot community is no stranger to delivering great technology through difficult years, and 2022 was certainly no exception. In just over 1 year since the launch of parachains in late 2021, Polkadot has become the largest and most diverse ecosystem of purpose-built layer-1 blockchains and apps, and the only one fully secured by a shared, network-wide validator set and benefiting from secure, trustless cross-chain interoperability. To date, 74 parachains have won an auction on Polkadot or Kusama, and are already supporting an ecosystem of well over 300 unstoppable applications according to best estimates. In total, around 550 projects are either launched or under development for Polkadot, a rather impressive start in the network’s first full year with live parachains. ...
Nomination Pools are Live! Stake natively with just 1 DOT.
Stake natively on Polkadot easier than ever and with as little as 1 DOT thanks to this new scalability feature for Polkadot’s staking system. Nomination pools are a new feature for Polkadot’s staking system that allows users to pool their DOT tokens together on-chain to nominate validators and receive rewards, significantly improving the system’s scalability. Now, anyone with as little as 1 DOT can receive rewards for staking natively on Polkadot. Coupled with the recently launched Polkadot Staking Dashboard, the new user-friendly staking app that recently came out of beta, nomination pools lower the barrier to entry for participation in staking directly on the network and simplify the staking process. Now, users with less DOT and those looking for a more passive staking experience can stake directly on the network. Crucially, these updates also reduce the incentive to stake through third-party services and intermediaries. By cutting out the middleman and staking natively (directly on the Relay Chain) DOT holders can help keep Polkadot secure and decentralized while receiving competitive rewards of up to 18%*. Native, protocol-level nomination pools also represent a major innovation in the broader blockchain industry, where stakers with less tokens are often disadvantaged and staking pools typically necessitate relying on intermediary services. — The need for nomination pools - From the beginning, Polkadot’s N...
First Parachain Successfully Migrates from Kusama to Polkadot
On October 3rd, KILT Protocol made history by becoming the first parachain to accomplish a full migration from the Kusama Relay Chain to the Polkadot Relay Chain. Besides marking an important technical milestone, the migration also represents the first instance of a parachain taking the upgrade path from Kusama to Polkadot. This demonstrates an important use case for the ‘canary network’ model pioneered by Polkadot, giving Web3 projects a place to stress-test their technology in a real-world environment and mitigate risk before upgrading to a more stable production network. Polkadot’s technology stack helped make the historic transition from one network to another possible. Kusama has always been a natural starting point for teams building in the Polkadot ecosystem. As Polkadot’s canary network, it provides an experimental proving ground for Web3 innovation. It’s a space for teams to roll out novel features and see how technologies will perform under live network conditions before they’re deployed to the more secure, stable environment of the Polkadot Relay Chain, helping mitigate risk and providing the right conditions for parachains to evolve and mature. Some projects have used Kusama as a network for experimentation on new ideas, where they can move fast and break things. Many teams have also used it as a pre-production environment, running a parachain on each network and using their Kusama parachain to deploy,...
Polkadot Roadmap Roundup
By Rob Habermeier, Polkadot founder As the Polkadot Community comes into the last quarter of 2022, we at Parity Technologies would like to update the community on a number of important development topics we’ve been working on. These bridge a number of categories: parachain scalability, parachain development, relay-chain governance, cross-chain communication, common-good parachains, bridging to other ecosystems, and staking. We’ve been hard at work on delivering the code for these features and upgrades and look forward to having them accepted by the Polkadot community. — Asynchronous Backing - Asynchronous Backing is the first set of major optimizations to Polkadot’s parachain consensus protocol since its launch on Polkadot in December 2021. Scalability is a huge topic in the blockchain ecosystem, and the goal of Parity and the Web3 Foundation as protocol designers is to meet the demand of parachains by providing each parachain with a large increase in block capacity. If Asynchronous Backing is enabled by the network, the block time of 12 seconds for parachains will be shortened to 6 seconds, which will mean lower latency and faster finality for transactions executed on parachains. Furthermore, the parachain blocks themselves will be allocated more time for execution, meaning that they get even more throughput. Asynchronous Backing is a large upgrade spanning the runtime, the networking protocol, and the logic of c...
Polkadot DevCamp Intake #2
Your path to parachain engineering starts here - Following hot on the heels of the hugely successful first Polkadot DevCamp in May, and to meet demand from new prospective applicants, we are delighted to announce that the second edition of Polkadot DevCamp has been slated for this fall and will take place online. All our educational materials have been updated to take account of a rapidly evolving ecosystem and we start with an opening ceremony on November 1st. — What does Polkadot DevCamp Intake #2 offer? - Our curated online education program brings together Polkadot experts to help developers hit the ground running with the Substrate technology stack. Polkadot DevCamp Intake #2 will provide an initial module on Substrate, Polkadot and how to use Rust within Substrate. We then introduce FRAME and Polkadot’s Runtime Development before providing you with a strong understanding of Substrate tooling, smart contracts and interoperability. — What is the timeline for Polkadot DevCamp Intake #2? - Applications Open: September 26th Applications Close: October 23rd Opening Ceremony: November 1st DevCamp duration: November 7th — 30th Closing Ceremony: December 5th The opening ceremony brings participants together for the course ahead and people have the opportunity to get to know each other even better at a social event two days later. The course itself kicks off on November 7th and certificates will be awarded...
Sub0, the Polkadot Developer Conference, comes to Lisbon in November
Important information - The sub0 conference will run on November 28th and 29th as an in-person event in Lisbon, Its main program includes a range of keynote presentations, breakout sessions, and workshops, with community-organized side events happening on both days., You’re invited! Sub0 is open to all skill levels — ranging from developers already building using Substrate and other parts of Polkadot’s tech stack, to those who are curious and new to the ecosystem., Tickets are free and available soon (sign up for updates below)., The highly anticipated 2022 edition of sub0 is happening soon. This year’s event has increased in scope, bringing together the diverse developer community already building on Substrate, Polkadot’s framework for building custom blockchains, as well as everyone who’s interested in learning about blockchain development in general. Sub0 creates the ideal knowledge-sharing environment for accelerating the evolution of Web3. The program line-up features Polkadot developers from around the community, including from Parity and Polkadot parachain teams. There will be separate content for experienced devs and those new to the ecosystem. Learn about the Polkadot tech stack, Substrate, Web3, blockchain and walk away with a clear understanding of the ecosystem. Or dive into technical topics, build during workshops, see new blockchain SDK tools, and hear about the latest developments on Polkad...
Nomination Pools are Live on Kusama!
With the release of runtime v0.9.22, nomination pools have been added to the Kusama runtime. Adhering to the tradition of the Polkadot ecosystem, Kusama is acting as the canary network here and is receiving this update first before Polkadot. As usual, some degree of chaos is expected. Nomination pools are a scaling solution for Polkadot’s NPoS system, specifically to assist accounts with fewer tokens to stake directly on the relay chain(s) rather than needing to go through a third-party service. In short, pools are a collective nomination scheme. Any account can create a pool, with some initial deposit which is used as the pool’s stake. Members can join the pool and increase the stake of the pool. Each pool is a single nomination from the point of view of the staking system. The pool creator has control over managing the pool, including deciding which validator the pool (and consequently all of the members of the pool) select.Pool Incentive Proposal To incentivize the use of nomination pools on Kusama, there’s an ongoing governance discussion on Polkassembly initiated by @kianenigma to support the creation of tips to reward early participation in nomination pools. The tip, if approved, will transfer some funds to the pool reward account, which will then be claimable by all pool members at that point, pro-rata. This is to create an extra incentive for prospective pool operators to operate a pool, and for members to join ...
Polkadot Relayers 2022
Great things happen when incredible people work together, and that’s what Polkadot Relayers 2022 is all about. In association with Tribe, Polkadot Relayers 2022 is a program bringing together developers and entrepreneurs to create a conducive and engaging platform for innovative ideas to come to life. Apply Now What can Polkadot Relayers 2022 offer? Through the program, participants willMeet like minded peers passionate about contributing to Web3Connect with mentors, who will guide participants to refine ideas and scale their business modelsParticipate in workshops with industry experts to learn more about Polkadot and trends in Web3Pitch to potential supporters and apply for grant funding to grow their business Who can participate? Polkadot Relayers 2022 is designed for both developers and non-technical entrepreneurs who have an interest in Web3 and are hoping to be a part of the Web3 ecosystem. There are no geographical restrictions for participants. When will the Polkadot Relayers 2022 take place? Applications for the Polkadot Relayers 2022 are open from May 23rd until June 24th. Selected applicants will go through an interview process and will be informed via email when the application has been approved and confirmed. An opening ceremony on August 2nd will then bring participants together for the course ahead. The course itself kicks off on August 2nd and runs until November 11th. Participants will then showcase ...
Polkadot Hacker House in NYC
The first ever Polkadot Hacker House will be held in New York City, between June 23 and 28. This six-day event for developers, coders, engineers and builders will be filled with technical workshops, in-person support, mentorship and networking. Put your hacking hats on because New York, here we come! Make sure to APPLY NOW, only limited seats are available. Polkadot boasts a large and diverse developer ecosystem, with incredible engineers from every corner of the world. A wide range of activities is already available for both seasoned Polkadot builders and new joiners alike, ranging from educational initiatives to hackathons and beyond. The newest addition is the Polkadot Hacker House in New York City! When and where will the Hacker House take place? The event will be held at Industry City in Brooklyn, NY between June 23 and 28. It complements the ongoing Polkadot Hackathon: North America Edition by providing an in-person component to an otherwise virtual hackathon. Who can participate? The Hacker House is designed for a broad technical audience: engineers and developers that are just starting to dive into the Polkadot ecosystem as well as more seasoned Polkadot builders wanting to take their projects to the finish line. All participants of the Hacker House should also make a submission to the Polkadot Hackathon: North America Edition. Are there any prizes? Yes! Hacker House participants should make a submission to the Pol...
More Polkadot (#DOT) News
|Biggest Movers: SHIB, DOT Remain Near 3-Month Highs, Despite Crypto Mark...
Shiba inu was one of Friday’s biggest gainers, as the meme coin remained close to a recent three month high. The token has been in the green for the majority of today’s session, despite the global cryptocurrency market cap falling 1.28% at the time of writing. Polkadot was also higher, as it continued to trade above a key price ceiling.Shiba inu (SHIB)
Shiba inu (SHIB) was a notable mover on Friday, with prices remaining close to yesterday's three month high.
SHIB/USD rose to a high of $0.00001291 on Thursday, which was its strongest point since November, however fell lower, as bulls moved to take profits.
As traders abandoned their positions, SHIB fell to a low of $0.00001196 yesterday, however prices have since recovered, and are currently sitting at $0.00001251.
Looking at the chart, Thursday’s decline pushed SHIB towards a floor at 61.00 on the relative strength index (RSI), however bulls rejected a breakout.
As of writing this, the index is tracking at 69.41, which is marginally below a resistance point at 70.00.
In order for SHIB to recapture yesterday’s peak, this ceiling at 70.00 will first need to be broken.
Polkadot (DOT) also maintained bullish momentum in today’s session, as the token continued to trade above a key resistance level.
After giving up a high of $6.84 on Thursday, DOT/USD dropped to a low of $6.53 later in the day.
The token has since rebounded, and as of writing this is currently trading at $6.79, which ...
|DOT Price (Polkadot) Prediction: Break Above $6.80 Could Spark Fresh Ral...
Polkadot’s DOT started a fresh increase from the $6.00 support against the US Dollar. It is consolidating gains and might start a fresh rally above $6.80.
DOT is holding the ground above the $6.00 and $6.20 levels against the US dollar. The price is trading above the $6.30 support and the 100 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near $6.20 on the 4-hours chart of the DOT/USD pair (data source from Kraken). The pair could start a strong rally once it clears the $6.80 and $7.00 resistance levels. Polkadot’s DOT Eyes Fresh Surge
After forming a base above the $6.00 zone, DOT price started a fresh increase. It climbed above the $6.05 and $6.10 levels to move back into a positive zone.
The bulls were able to push the price above the $6.20 level and 100 simple moving average (4-hours). Besides, there was a break above a key bearish trend line with resistance near $6.20 on the 4-hours chart of the DOT/USD pair.
A high is formed near $6.90 and the price is now consolidating gains, similar to bitcoin and ethereum. There was a move below the $6.70 level. It declined below the 23.6% Fib retracement level of the upward move from the $6.03 swing low to $6.90 high.
Dot price is now trading above the $6.30 support and the 100 simple moving average (4-hours). An immediate resistance is near the $6.80 level. The main resistance is near the $6.95 and $7.00 levels.
Source: DOTUSD on TradingView.com
A successful break abo...
|Polkadot (DOT) Price Moves Closer To Crucial Support, What's Next?
The Polkadot (DOT) price started to note a fall on its daily chart after Bitcoin could not stay above the $24,000 price.
Other significant altcoins followed suit with Bitcoin's descent on its chart. Over the last 24 hours, DOT lost 3% of its market value. In the last week, the altcoin lost close to 6%.
The technical outlook also started to portray how the bulls were losing strength on the daily chart. Demand for the altcoin noted a downtick, which is why even accumulation fell on the chart.
With a fall in demand, DOT is headed toward its nearest support level, and a continued reduction in buying strength will push Polkadot below its support line.
If demand in the broader market improves with BTC appreciating and moving above the $24,000 mark, then demand for other altcoins, including DOT, will increase on its chart.
DOT must break past its overhead resistance to ensure that the coin does not incur further losses over the upcoming trading sessions. The market capitalization of DOT noted a decline, which meant that sellers had started to resurface in the market.
Polkadot Price Analysis: One-Day Chart
DOT was exchanging hands at $6.28 at the time of writing. The altcoin was quite close to its immediate support level of $6.20. This level acts as a crucial price zone for the altcoin, as a fall from its level will bring Polkadot to $5.70.
The overhead resistance for the coin stood at $6.60; breaching this level will help Polkadot secure $6.20 as its nearest support line.
|2022 Was Crypto's Dot Com Bust: Let's Recap Tech Stocks After 2000 (Opin...
The last year saw the fall of the Terra-Luna ecosystem, BlockFi, Celsius, Voyager Digital, 3AC, and Alameda-FTX. But it's not the end of cryptocurrency. Like the Internet after the Dot Com bust, crypto is still just getting started.
Sure, it's true that several crypto firms went down in 2022. But it seems worse in the headlines than it is in reality. Cryptocurrency's critics in news journalism and the traditional finance industry are treating the failure stories as representative of the entire industry.
The cryptocurrency community likes to use the term 'FUD' to describe the proliferation of negative crypto news. In some ways, that's natural and understandable in terms of vigilance, transparency, and threat detection.
Fud is an acronym to describe crypto news articles or social media posts that add to perceptions and feelings of fear, uncertainty, and doubt. While the FUD may start arguments on Twitter or YouTube and boost engagement, it rarely informs about recent threats and weaknesses.
Instead, it usually over-discusses them and creates a bias for participants in these discussions to overweigh them in their view of the industry and markets. Besides, all the FUD doesn't tell anyone about the great products the crypto industry is building.
Crypto Critics Continue to Inspire Doubt
At this point, crypto's inevitability is hard to hold in doubt for anyone who is apprised of the facts about cryptocurrencies and the latest techniques and products of the global financial market.
|Here's Why Polkadot's DOT Is Not a Security According to the Web3 Founda...
Back in 2017, the SEC released Report 21A, better known as the DAO Report. In it, the agency laid out the reasons why the tokens of most DAOs, Polkadot included, should be considered securities.
The paper, however, stated that there were steps development teams could take in order to make their projects not function as securities, should this be desired. In the view of the Web3 Foundation (W3F), DOT does not match the criteria necessary to be considered a security and requests a review from the SEC on the matter.
Software, Not Securities
The 14-tweet thread published yesterday by W3F reads that DOT was never intended to function as a security but as a Layer-1 blockchain, ergo software meant for other companies to build on, according to Chief Legal Officer Daniel Schoenberger.
'When contemplating the launch of the Polkadot network, there was no intention to issue a security. We always thought of DOT as vertical agnostic & use-case agnostic coordinating software.'
Nevertheless, DOT’s development team concedes that the project could have seemed to be intended for financial use primarily and reiterates that they have taken steps to remedy this view.
1/ @Polkadot's native token DOT is, and always has been, co-ordinating software. Following W3F's announcement on DOT morphing into a non-security, read the thread below to learn how DOT was able to morph, what Polkadot is, and the primary goals of the network. pic.twitter.com/sAnU56GnIh
— Web3 Foundation (@Web3foundation)...
|Polkadot Hints At Price Recovery – Can DOT Go Past 15% Weekly Ceil...
Polkadot (DOT) is in the green (see image below) and going steady. Could this hint at price recovery? Even though Polkadot’s funding rate plunged for a while, it is showing some improvement at the time of writing.
Here's a quick look at DOT price movement:
Polkadot price is up by 14.9% in the weekly
DOT low in market cap dominance
DOT shows a spike in development activity
According to Coingecko, DOT price has skyrocketed by 4% in the last 24 hours, and trading at $6.50 as of press time.
Polkadot Eco-Friendliness To Drive Positive Momentum
January was phenomenal for most cryptocurrencies that are enjoying a price rally, but DOT was seen struggling and was unable to reach its pre-FTX levels.
On a positive note, DOT was the only asset that consumed the least electricity when pitted against other cryptocurrencies. This eco-friendly quality of DOT can drive positive momentum for the coin.
POLKADOT - THE ECO-FRIENDLY BLOCKCHAIN
Thanks to CCRI Report 2022, we found @Polkadot was ranked #2, only followed by US Household in terms of the total yearly electricity consumption
Let's see more details below #Polkadot $DOT #AVAX #ALGO #BTC #ETH #SOL #ADA pic.twitter.com/S5WxxvJSA0
— Polkadot Insider (@PolkadotInsider) January 25, 2023
Even though the weighted sentiment on Polkadot remained to be negative last December, its low electricity consumption can drive a change in public sentiment, switching it to positive which is great news for Polkadot.
|DOT Price (Polkadot) Indicators Suggest Strong Case For Fresh Rally
Polkadot’s DOT started a fresh increase from the $5.60 support against the US Dollar. It correcting gains, but indicators suggest high chances of a fresh increase.
DOT is holding the ground above the $6.00 and $5.80 levels against the US dollar. The price is trading nicely above the $6.00 support and the 100 simple moving average (4-hours). There is a major bullish trend line forming with support near $6.05 on the 4-hours chart of the DOT/USD pair (data source from Kraken). The pair could start a strong rally once it clears the $6.40 and $6.50 resistance levels. Polkadot’s DOT Eyes Fresh Rally
After forming a base above the $5.60 zone, DOT price started a fresh increase. It climbed above the $5.80 and $6.00 levels to move back into a positive zone.
The bulls were able to push the price above the $6.50 level and 100 simple moving average (4-hours). The price traded as high as $6.82 and recently started a downside correction, similar to bitcoin and ethereum. There was a move below the $6.50 level.
Dot price dipped below the 50% Fib retracement level of the upward move from the $5.59 swing low to $6.82 high. However, the bulls are protecting the $6.15 support zone.
There is also a major bullish trend line forming with support near $6.05 on the 4-hours chart of the DOT/USD pair. The bulls are also protecting the 61.8% Fib retracement level of the upward move from the $5.59 swing low to $6.82 high.
It is also above the $6.00 support and the 100 simple moving average (...
|Polkadot Could Present Buying Opportunity As Bullish Outlook Continues
The Polkadot price has breached the $5 resistance mark in the past trading sessions. Over the last 24 hours, DOT has appreciated by 3.8%. The price of Bitcoin has been surging, which has caused other altcoins to also move upward on their respective charts.
When Bitcoin crossed the $18,000 price mark, other altcoins broke past their immediate resistance marks. Polkadot price momentum remains bullish in the shorter time frame. The technical outlook for DOT showed that despite a price correction, accumulation on the chart increased.
Polkadot demand also showed an increase on its chart. The asset's price has to remain above the $5.40 support line and breach the $6.20 resistance level if the coin has to maintain a bullish stance for a longer time frame.
The daily chart of DOT also points towards an incoming fall in price, which means that traders might be presented with shorting opportunities. Currently, DOT is trading at an 89% discount from its all-time high secured in 2021.
Polkadot Price Analysis: One-Day Chart
DOT was exchanging hands at $5.89 at the time of writing. Polkadot had formed a cup and handle pattern, which means that the bullish momentum can continue, which is why Polkadot resumed its northbound journey on the daily chart.
Overhead resistance for the coin stood at $6. Toppling the $6 mark can take the coin to $6.20. As Polkadot was overbought, demand for the coin could trickle down.
This can cause the price to fall for a few trading sessions before it starts to ...
|Crypto Price Analysis Jan-20: ETH, XRP, ADA, SOL, and DOT
This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Polkadot.
Ethereum managed to book a 9.5% increase in the past seven days despite this most recent pullback. However, buyers are now on the defensive because the price broke below the parabola that was formed in early January. This indicates that sellers may soon take over.
Whenever a parabola is broken, that signals a change. In this case, Ethereum managed to reach $1,600 before sellers returned. This key resistance seems likely to hold in the near future since buyers appear to have lost their momentum.
Looking ahead, a retest of the support found at $1,400 seems probable. This would constitute a healthy pullback and an expected move, considering the parabolic increase in the price during most of January.
Chart by TradingView
XRP tried to break above the key resistance at 40 cents but failed. While the price did manage to register a 4% weekly increase, this was not enough to put bulls back in charge. For this reason, the cryptocurrency may hover under the key resistance and consolidate in the near term.
XRP appears to be entering into a flat trend where both bulls and bears trade places in controlling the price action. With good support at 36 cents, it could continue to bounce between the key levels for some time until a decisive breakout.
Looking ahead, the bias for this cryptocurrency leans bullish on higher timeframes (weekly), and this cooldown may be a temporary stop....
|Biggest Movers: XMR, DOT Move Higher, Rebounding From Recent Declines
Monero rebounded from recent losses on Tuesday, as the token attempted to recapture recent highs. The move comes as U.S. markets reopened following a public holiday on Monday. Polkadot also moved higher in today's session, snapping a two-day losing streak.Monero (XMR)
Monero (XMR) rebounded on Tuesday, as the token moved back towards a recent seven-month high.
Following a low of $165.77, XMR/USD raced to an intraday peak of $173.28 earlier in today's session.
Today's move saw monero bounce from its support at $165.00, and climb towards a resistance of $175.00.
As of writing, the token remains below this ceiling, currently trading at the $172.65 level.
Should this hurdle be overcome, XMR bulls will likely attempt to recapture last week's peak of $187.20.
In order for this to happen, the relative strength index (RSI), which is currently tracking at 68.71, will need to move back towards the 80.00 mark.
Polkadot (DOT) snapped a two-day losing streak on Tuesday, with prices nearing a two-month high.
DOT/USD hit a high of $6.07 earlier in today's session, which comes less than 24 hours after trading at a low of $5.66.
As a result of Tuesday's surge, DOT moved to a ceiling at $6.10, and closer to Saturday's high of $6.51.
Looking at the chart, the rebound came as the 14-day RSI also bounced from its own support point at 72.45.
Currently, the index is tracking at 74.88, with a ceiling at the 82.00 mark a possible target for buyers.
As of writing, DOT has given up ea...
|Crypto Market Cap Taps $1 Trillion as SOL, DOT Explode Double Digits
The rally from the past two weeks has pushed the cumulative market cap of all crypto assets to above $1 trillion for the first time since the FTX debacle.
This comes amid the massive price surge from several altcoins, such as Solana, Polkadot, Polygon, Avalanche, and others.
The start of 2023 has been quite spectacular for the cryptocurrency market following the painful 2022. The largest digital asset went from around $16,500 to over $21,000 in about two weeks.
This 27% increase meant that the asset recovered all losses that came from the FTX collapse in November. It also helped BTC's market cap to touch $400 billion, and its dominance is up to almost 41% after dropping to 39% last week.
Although bitcoin's dominance is on the rise in the past few days, several altcoins have actually outperformed it. Solana is a prime example. SOL was among the most harmed asset following the FTX crash due to its affiliation with the former empire led by SBF.
This culminated in a drop below $8 at the end of 2022. However, things started to change following some positive words by Ethereum's co-founder Vitalik Buterik, and SOL went on a roll. It almost tripled its value in the span of a few weeks and surged above $23 earlier today.
NEAR Protocol is another massive daily gainer, following a 28% surge. MATIC, DOT, TRX, AVAX, and CRO are among the other larger-cap altcoins with double-digit price pumps.
This rally has pushed the crypto market cap to above $1 trillion on CoinGecko for the firs...
|Polkadot Shows No Sign Of Slowing, As DOT Gains 33% In Last 7 Days
With Bitcoin surging past $20,000, altcoins like DOT (Polkadot) have been riding the broader crypto rally which started since the beginning of 2023. According to CoinGecko, the token is trading at $5.94, and has risen by more than 12% in the past 24 hours and 33% in the weekly.
This was caused by market optimism caused by positive Consumer Price Index (CPI) data that was released Thursday. With the main components of the CPI going deflationary, the market may continue the sharp rally that it started the year with.
Polkadot, as an ecosystem, has been on a roll lately. According to Santiment, Polkadot has been seeing a strong development activity in recent days, adding on to the already bullish momentum of the overall crypto market.
Polkadot also reached over 1 million DOT in nomination pools, making staking on-chain more viable. Crypto.com also released a recent post regarding the current market. Polygon ranked 4th place in TVL with a 5% change in the past seven days.
This can be associated with the recent developments on-chain and the recent crypto market rally. Accompanying these are the improving macroeconomic trends. With the CPI dropping to 6.5%, DOT can continue its momentous climb in the next few weeks or months if the momentum continues.
Although some analysts are pessimistic that this rally is for the long term, the overall on-chain performance of the ecosystem will be supporting the token and breaking further resistance...
|Polkadot Breaches $5 But These Levels Remain Crucial For DOT
Polkadot has finally managed to break past the rigid price resistance mark of $5. Over the last 24 hours, DOT increased by more than 6%. In the past week, the coin has secured double-digit gains.
Bitcoin moved into its daily chart's $18,000 price zone, pushing altcoins on their respective charts. Although DOT rallied in the last 24 hours, the altcoin is still not out of the woods. The altcoin must remain above two price levels.
The technical outlook still sided with the bulls, but there was a fall in the accumulation on the daily chart, indicating that there has been a fall in demand. The demand, however, secured by DOT reached a multi-month high. Usually, after being overvalued, the coin starts to retrace on its chart.
Indicators showed that if buyers do not remain consistent, DOT will depreciate on its chart over the subsequent few trading sessions. The altcoin market capitalization fell slightly in the last 24 hours, which meant demand for the altcoin dipped. At the moment, DOT was trading 90% below its all-time high of 2021.
Polkadot Price Analysis: One-Day Chart
DOT was trading at $5.09 at the time of writing. The coin was trading within an ascending parallel channel (blue). The ascending parallel channel marked a bullish force in the market.
At the time of writing, Polkadot broke above the ascending parallel channel, indicating that DOT might consolidate over the subsequent trading sessions before it starts to retrace.
Immediate resistance for the coin stood at $5.30;...
|Biggest Movers: AVAX 22% Higher, as DOT Nears 1-Month High
Avalanche was one of Thursday’s big gainers, as the token rose by as much as 22% in today’s session. The move came as inflation in the United States fell to 6.5% as markets were expecting. Polkadot was another notable mover, with prices climbing close to a four-week high. Avalanche (AVAX)
Avalanche (AVAX) rose by as much as 22% in today’s session, as cryptocurrencies reacted to the latest U.S. inflation report.
AVAX/USD moved to a peak of $16.11 earlier in the day, which comes less than 24 hours after falling to a bottom of $12.41.
Thursday’s spike in price pushed avalanche to its highest point since November 8, when price was at a peak of $18.15.
Looking at the chart, earlier gains have somewhat eased, with AVAX now trading at $15.18.
This came as the 14-day relative strength index (RSI) failed to break out from a resistance at the 80.00 level.
As of writing, the index is now tracking at 69.94, which is still deep in overbought territory.
Polkadot (DOT), was another big gainer in today’s session, with prices moving closer towards a four-week high.
Following a low of $4.84, DOT/USD managed to reach an intraday high of $5.16 earlier on Thursday.
As a result of this move, DOT broke out of a key resistance level of $5.15, hitting its strongest point since December 16 in the process.
As can be seen from the chart, the 14-day RSI has failed to move beyond its long-term ceiling of 68.00, and has since slipped lower.
Price strength is ...
|Polkadot Records New Achievements In Dev't Activity, Pushes DOT Price Up
Polkadot (DOT) has ushered in the first week of 2023 on a strong note, rising 8% in the last seven days, data from Coingecko shows, Wednesday.
The ecosystem itself has been very bullish recently, following the trend of the crypto market. According to Polkadot Insider, who posted an on-chain update of the ecosystem, Polkadot is registering new users on-chain, peaking on January 6th at 2,126 new users.
The ecosystem also saw gradual increases in revenue. Compared to December’s final week– which includes January 1st, in line with Polkadot Insider’s chart– average revenues on the last week of the month was at $671.8 million, but the average rose this week to $709.3 million.
Connecting The DOTs
Polkadot released a blog post rounding up the developments on the ecosystem last year and it is impressive nonetheless. Even with the strong grip of the bear market, Polkadot has over 550 projects running on-chain or are being developed on the ecosystem. With over 71 parachains on Polkadot, development will continue even in the midst of the bear market.
This can be seen in the development activity on-chain which skyrocketed with the start of the year. Polkadot also scored major partnerships with Japan phone operator NTT Docomo and video game company Square Enix, further strengthening the ecosystem’s Web3 infrastructure.
But positive revenues, booming dev activity, and major tie-ups could have no big effect on DOT’s price,...
|Polkadot (DOT) Ecosystem Grew Massively In Q4 2022, What To Expect Next?
Polkadot provides interoperability among several blockchains for users while maintaining high scalability and speed in processing transactions. Also known as a multichain network, Polkadot supports many parachains, enabling developers to build their blockchains seamlessly.
Several blockchain projects exist in the decentralized finance (DeFi) sector. These platforms usually emerge with different products and services related to cryptocurrency and blockchain technology. Subsequently, users became intrigued with the full potential packed in the DeFi space.
However, there was the challenge of how a user could access more than one blockchain and DeFi application through a single platform. This is where the value proposition of the Polkadot became prominent.
The last few months in 2022 were tough in the crypto market as most crypto assets and projects saw a drastic drop in performance. In addition, the unexpected collapse of the FTX crypto exchange brought a devastating condition that created losses in the crypto space.
However, DOT has a positive story to tell. The multichain network reports massive growth in its ecosystem during Q4 2022.
1/ The Polkadot 2022 Roundup is here
Despite the difficult year for the industry, the Polkadot and Kusama community were busy building the largest, & most diverse ecosystem of use case specific layer-1 blockchains in the world, making huge strides toward building a better web. pic.twitter.com/sGZDz0zHIW
— Polkadot (@Polkadot) December 31,...
|Despite A Relief Rally Polkadot Struggles Under $5, What's Next?
The Polkadot price posted significant gains over the last week after Bitcoin showed recovery on its chart. Other altcoins have also moved in the same direction. At the moment, however, DOT has been trying to breach the immediate resistance of $5.
In the past 24 hours, DOT noted a fall of 2%, but that could be attributed to a slight fall in demand for the altcoin. The technical outlook for Polkadot remains bullish. Buyers and demand for the altcoin have to keep mounting, and soon DOT will travel above the $5 level to trade near the $6 level.
Accumulation has been growing in the last week as buyers have exceeded sellers at press time. It is critical, however, that DOT surpasses the $5 mark, or the coin will begin to trade lower, resulting in a loss of investor interest.
The market structure for DOT remains bullish as the coin managed to flip a few resistance marks into support levels in the past week. A push from the buyers will certainly strengthen the bulls' efforts to cross the stiff price ceiling of $4.90. The Polkadot price is trading 91% below its all-time high secured in 2021.
Polkadot Price Analysis: One-Day Chart
DOT was trading at $4.90 at press time. The $4.90 price level was a strong resistance point for the altcoin. Although DOT managed to break past the $4.80 resistance level, which has proven to be a tough resistance mark in the past, the coin continues to remain underneath the $5 level.
The $5 mark is crucial, as the 78.6% Fibonacci retracement level also some...
|Polkadot (DOT) Inks 10% Rally In Last 7 Days, Makes Case As 'Non-Securit...
Polkadot (DOT) is riding a solid bullish momentum that enabled it to stay in the green for the past 24 hours and maintain significant gains in the last seven days.
According to tracking from Coingecko, at the time of writing, DOT is changing hands at $4.69, tallying a weekly hike of 10%.
Moreover, the 13th largest cryptocurrency in terms of market cap has managed to trim its 30-day losses down to just 11.4% although it is still several miles away from its all-time high value of $54.98%.
Holders, though, need to be cautious as some of its technical indicators show that Polkadot’s surge might be short-lived.
DOT might soon experience strong selling pressure as indicated by its Relative Strength Index (RSI) which is currently hovering at the 50% region.
DOT No Longer A Security
Although there’s a lot of uncertainty in DOT’s future as far as trading price is concerned, it would seem that the crypto asset has put itself in a very good position to avoid being choked by strict regulations that threatens the broader crypto space.
Following the collapse of the FTX exchange platform that made investors lost a lot of money and the continued proliferation of crypto scams, analysts expect that international governments will soon bring the hammer down to better regulate ownership, selling, buying, trading and use of cryptocurrencies.
Polkadot, however, could be safe from this looming threat as according to Web3 Foundation, the altcoin is no longer considered as a securi...
|Is Polkadot (DOT) A Must-Have For Your 2023 Portfolio?
The year 2023 is said to be huge for Polkadot (DOT) as it is one of the cryptocurrencies to watch out for. Many crypto experts are very optimistic about Polkadot, and they’re saying that traders should keep an eye on the coin because its developments will be big for that year.
DOT is looking bearish but can pivot to a bull run in the coming days
Polkadot is said to be an attractive addition to the investment portfolio for 2023
DOT price is down by 1.43%
While DOT isn’t performing well as of press time, crypto experts believe that this is the best time to buy. The coin is regarded as one of the safety nets and best bets to include in your portfolio for next year.
According to CoinMarketCap, DOT price is down by 1.43% or trading at $4.28 as of this writing. And many crypto experts think that the discounted price should entice more traders to buy while the prices are still low because it’s bound to spike by next year.
Polkadot: One Of The Most Liquid Assets
Even though Polkadot has depreciated in value, it’s still the top-rated crypto in terms of capturing investor interest. It stands out when pitted with other cryptos as it’s also one of the popular liquid assets included in hedge fund portfolios.
Indeed, there is an increasing demand for Polkadot, and it is seen to have the most potential to rise in 2023. In fact, as early as now, many top investment companies and even hedge funds are putting most of their eggs on the Polkadot basket.
|Polkadot Price Can Fall To This Level Before Christmas
The Polkadot price has been on a downtrend ever since the beginning of August. The coin has pierced through several price floors in that duration. In the past 24 hours, the coin has lost 1.6%. In the last week, DOT sustained double-digit losses.
At this moment, DOT has again resumed its lateral trading, but signs point towards the coin losing further momentum. The technical outlook depicts that the bears have taken over the market completely. The altcoin was undervalued as it was oversold on the chart.
The demand for DOT had completely faded, which resulted in less accumulation. As DOT continued to lose value over the past several months, investor interest faded, which also resulted in the shorting of the altcoin.
Presently, the Polkadot price is sandwiched between the $4.60 and $4.30 price levels, and going by the technicals, DOT is eyeing a fall below the $4.30 mark before it starts correcting itself. At press time, the Polkadot price was trading 91% below its all-time high secured in 2021.
Polkadot Price Analysis: One-Day Chart
DOT was trading at $4.50 at the time of writing. The coin has recently lost a $5.06 support line, and since then, Polkadot price has been consolidating. Continued consolidation will see a further loss of value because sellers will lose interest in the asset again.
Overhead resistance for the coin stood at $5 and then at $5.71. If the altcoin moves above the $5.71 price level, the chances of Polkadot price revisiting the $6 zone increase.
On the ot...
|Crypto Price Analysis Dec-23: ETH, XRP, ADA, BNB and DOT
This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Polkadot
ETH fell by 3.1% in the past seven days after it lost the support at $1,240, which has now turned into a resistance. The bulls stepped up at $1,150, and since then, ETH has been trending upwards.
In the next few days, this cryptocurrency seems likely to attempt to reclaim the $1,240 level as support. However, to achieve this, buyers need to keep it up. So far in December, the bulls have been rather shy in taking over the price action.
Looking ahead, ETH did manage to stop the price from making lower lows in contrast to many other altcoins that fell to new yearly lows (see ADA and DOT below). This is a sign of strength for ETH. As long as the price does not fall under $1,100, then buyers have a good shot at pushing ETH higher in the new year.
Chart by TradingView
XRP suffered a significant drop in price, falling by 6.7% in the past seven days. At the time of this post, this it appears to have found good support at $0.33, and the key resistance is at $0.36.
The good news for XRP is that its price did not make a lower low with this most recent drop. This gives hope that the worst might be behind us, and buyers may prevent a lower low from happening in the future.
Due to low volatility at this time, XRP could range between the key levels for a while before breaking out. To flip the bias to bullish, the price has to break above the resistance at $0.36 with good vo...
|Upcoming FOMC Meeting Is The Most Important Ever For Bitcoin – Wat...
With the Bitcoin price posting a small gain of over 1.5% over the last seven days, the market is in for a blockbuster next week.
The release of the Consumer Price Index (CPI) on December 13, Tuesday at 08:30 AM ET, will once again be 'the most important CPI ever'.
Just one day later, on December 14, Wednesday at 2:00 PM ET, the final Federal Open Market Committee (FOMC) meeting of the year will take place. Remarkably, FED members will release their updated forecasts for inflation and interest rates (dot plot) at the meeting.
A Blockbuster Week
The dot plot is released only four times a year - in March, June, September, and December - and presents the FOMC's economic projections, which look at GDP, unemployment rates, and inflation for the coming months as well as over the longer term.
Within the dot plot, each member of the Committee publishes its view of potential interest rates over the longer term.
For investors, this is extremely useful information as it allows market participants to see if the consensus path for longer-term interest rates is changing.
The markets, as well as Bitcoin investors, will therefore be eagerly watching the inflation forecasts for next year, as well as the interest rate expectations for 2023 and 2024.
As economic journalist Colby Smith wrote in November, the September dot plot showed most officials favored a slowdown to 50 basis points in December.
The question for next week will be whether the Fed, led by Powell, will put into play a slower rat...
|Polkadot Bears Might Drag Its Price Down Despite Bullish Signals
The Polkadot price has attempted to break past its immediate resistance several times during the first week of December. Despite that, the bulls could not build on their strength. This suggests that the coin's buying power remained low at higher price levels for the altcoin.
The technical outlook for the coin depicted a fall in demand. Accumulation has remained quite low for Polkadot throughout the month of November and the first few weeks of December. DOT increased 2% over the last 24 hours, but that doesn't reflect bullishness on the one-day chart.
The Polkadot price has to trade above the $5.71 mark to target $6. The $5.71 price resistance has been a strong barrier for the coin. Broader market strength and a push from buyers can only help the altcoin move north. Polkadot market capitalization also declined, indicating that bearish strength still prevailed.
Polkadot Price Analysis: One-Day Chart
Polkadot was priced at $5.30 on the one-day chart | Source: DOTUSD on TradingView
DOT was trading at $5.30 at press time. Although the coin crossed the $5 mark, the bears could drag the price to $4.30. Immediate resistance for Polkadot was at $5.71, breaching which DOT could have a shot at $6.
On the other hand, the first line of support stood at $4.50, falling through which the coin will rest at $4 if DOT does not lose momentum, which appears unlikely given the low demand for the altcoin. A bounce off the $5 mark could help Polkadot move above the $5.70 mark.
Toppling the $5.70 le...
|Biggest Movers: DOT Hits 12-Day High, UNI up for Fourth Straight Day
Polkadot rose to its highest level in nearly two weeks on Dec. 2, despite cryptocurrency markets sliding following the latest nonfarm payrolls report. The global crypto market cap is down 0.57% as of writing, as prices consolidated following the data being released. Uniswap was also higher, despite the turbulent sentiment on Friday.Polkadot (DOT)
Polkadot (DOT) moved to a 12-day high on Friday, as the token rallied, despite crypto markets being mostly lower in the day.
Following a low of $5.34 on Thursday, DOT/USD surged to an intraday high of $5.63 earlier in today’s session.
As a result of today’s gains, DOT moved to its highest point since Nov. 20, when the token was trading at a high of $5.65.
Looking at the chart, this point has also acted as a resistance level in recent times, and as of writing price is hovering below this mark.
In addition to the aforementioned price ceiling, the 14-day relative strength index (RSI) is also hovering close to a resistance point of its own.
The index is tracking at 49.87, which is marginally below a ceiling at the 50.00 level. Should it move past this point, we may then see prices head closer to $6.00.
Uniswap (UNI) was another notable gainer on Friday, as prices rose for a fourth straight day.
UNI/USD raced to a peak of $6.02 earlier in the day, which comes less than 24 hours after falling to a bottom of $5.73.
This move sees uniswap edge closer to a recent high of $6.40, which was last hit on Nov. 16.
As a ...
|Polkadot Reflects Accumulation – How Long Will It Trade Sideways?
Polkadot price seems to be returning on its feet, courtesy of recent developments. DOT's network released its newest update, highlighting some core developments that could pave a path for its foundational roadmap for 2023.
Polkadot has plans to delve deeper into smart contract development through its project Substrate. This focuses on the network's intention to bring more utility. DOT has also expressed interest in wanting to enter the NFT section. Looking at the technical outlook, the coin has picked up on some positive price action. Over the last 24 hours, DOT moved upward, albeit slowly.
This slow price movement could be attributed to broader market weakness. The buyers seemed to pick up the pace, indicating increased demand for the asset. To correspond with the same sentiment, DOT registered a significant increase in its market cap.
Polkadot Price Analysis: One-Day Chart
Polkadot was priced at $5.31 on the one-day chart | Source: DOTUSD on TradingView
DOT was trading at $5.31 at press time. The altcoin has been sandwiched between the $5 and the $5.6 zone for weeks. The increase in accumulation, however, makes it seem as though Polkadot might be able to breach the overhead resistance of $5.70.
In the event of breaching the immediate resistance, DOT might also reach $6.21, giving investors significant gains. On the flip side, if DOT remains stuck under the $5.60 mark for too long, demand will wane, resulting in depreciation. Polkadot's next stop would be $4.50 in that case...
|Polkadot (DOT) Clings To $5 Level Despite Unforgiving Bear Market
Polkadot (DOT), the 11th largest cryptocurrency with an overall valuation of nearly $6 billion, continues to keep its losses in this prevailing crypto winter to minimal levels.
On November 8, despite the negative effects of the collapse of the FTX exchange platform, the digital asset managed to briefly surpass the psychological $7 marker, peaking at $7.38.
DOT wasn’t able to sustain this gain and quickly abandoned the territory, hovering around the $6 region before eventually falling to the $5 range which it continues to maintain despite the ongoing bear market.
According to latest tracking from Coingecko, Polkadot is trading at $5.13 at the time of this writing, being down by only 1.3% over the last seven days.
Despite painting its chart in red, the digital asset has so far parried all the heavy blows of this bear cycle responsible for making the crypto market cap go down by almost 2% during the last 24 hours.
Polkadot Focuses Energy On Areas It Can Win
As its trading price and total market capitalization continues to be at the mercy of the winter season for crypto space, Polkadot has turned its focus on aspects where it can emerge victorious and enjoy positive developments.
For example, the nomination pools for the project successfully achieved a milestone when the current number of DOT bonded by members of its pool surpassed the 500,000 marker.
Last week, at the time when industry leaders Bitcoin and Ethereum failed to make any kind of move to turn the tides on thei...
|Polkadot Soars 8% In Last 24 Hours Courtesy Of Its Dev't Activity, NFT E...
With the use of relationships with parachains, Polkadot will be able to expand its ecosystem's capabilities and reach new heights. Moonbeam Network and its subsidiary, Moon River, have joined forces with Bifrost recently.
There's hope for Polkadot, and here's a quick article at how the crypto has been faring: The DOT's price went up because of some major changes on the chain. However, according to the indicators, the negative outlook remains intact.
Based on a recent tweet, the integrations have not only enabled liquid staking for GLMR and MOVR tokens, but they have also caused a dramatic increase in developer engagement within the ecosystem.
This, as this tweet attests, is what propelled Polkadot into the ranks of the most active blockchains.
We're happy to announce that $vGLMR & $vMOVR liquid staking is Live on Bifrost!
Thanks to the @Polkadot #HRMP channel and the yield-bearing vToken derivatives, @MoonbeamNetwork & @MoonriverNW community can enjoy increased token liquidity and rewards:https://t.co/15mSRH8BpR
— Bifrost (@bifrost_finance) November 21, 2022
During this same time period, sales of NFTs grew, indicating progress for Polkadot in this arena as well. CoinMarketCap reports an 8 percent gain in the price of DOT in the last 24 hours as a result of these events. However, can DOT keep up this pace?
Optimism Lingers For DOT
While there is little doubt that ecosystem trends are encouraging, multiple signs suggest that investors may be getting carried away. We may...
|Polkadot Snags No. 1 Spot In Dev't Activity This Month – Time To G...
Certainly a welcome change for those who work in crypto. Despite widespread doom and gloom, Polkadot native coin, DOT, has become the most discussed cryptocurrency in the community. Still, that's not the end of the good news.
A recent tweet by @PolkadotInsider explained how Polkadot has more active developers than Ethereum. This demonstrates the ecosystem's widespread appeal within the cryptocurrency sector as Polkadot is able to secure the top top spot in terms of development activity this month.
However, the question of whether or not DOT is a solid buy in the present needs to be addressed. In the meantime, with this decent achievement - is it a good time to go long on the crypto?
TOP #Polkadot #DOT Ecosystem Coins by Social Activity
19 November 2022$DOT $CELR $LIT $KSM $DIA $PHA $CQT $EWT $ANKR $OCEAN pic.twitter.com/2cLLptJBve
— CryptoDep #StandWithUkraine (@Crypto_Dep) November 19, 2022
Polkadot Falls Short In Hitting New Peaks
The crypto market, as you may be aware, is now witnessing a bearish market mood takeover due to external factors of uncertainty and doubt.
All expectation of a DOT-beneficial relief rally in the near future has been dashed.
DOT's value has decreased significantly over all time frames, but it has lost 23.7% in the past two weeks, as measured by CoinGecko.
As of right now, the token is selling for $5.15, which is a loss. Correlations with Bitcoin and Ethereum, two of the most popular cryptocurrencies, show that its price ...
|Biggest Movers: BCH Climbs to 1-Week High, DOT Declines
Bitcoin cash rose to a one-week high in today's session, despite crypto markets mostly trading lower. The global cryptocurrency market cap is down by 2.45% as of writing, which comes as traders reacted to rising geopolitical tensions. Polkadot was a notable token to slip, as prices collided with a key support point.Bitcoin Cash (BCH)
Bitcoin cash (BCH) raced to a one-week high on Wednesday, despite cryptocurrency markets mostly trading lower.
Following a low of $103.09 on Tuesday, BCH/USD surged to an intraday peak of $109.09 earlier in today's session.
The move saw BCH hit its highest point since November 8, when the token was trading close to a high of $120.00.
As can be seen from the chart above, today's high saw bitcoin cash move closer to a key resistance level of $110.00.
The 14-day relative strength index (RSI) also rose higher, with the index breaking out of a ceiling of its own.
Currently, the index is tracking at 46.52, which is above the aforementioned ceiling at 45.00.
Polkadot (DOT) on the other hand was back in the red on Wednesday, snapping a two-day win streak in the process.
DOT/USD was down by as much as 5% in today's session, falling to a low of $5.72.
Today's drop saw the token move closer to its support level at $5.60, which has mostly been in place for the last week.
Looking at the chart, the RSI also dropped to a floor of its own, with the index colliding with its support at 41.00.
Should the index move below this point, we will likely...
|Polkadot Price Depreciates, Will The Bulls Be Able To Defend This Suppor...
Polkadot price has retraced on its chart over the last 24 hours. The coin has started to register sideways movement on its one-day chart. During this period, the coin lost close to 2% of its market value.
In the last week, DOT registered more than 6% appreciation, which caused the bulls to gain stamina and break past the consolidation phase.
The technical outlook for the coin remained positive; however, the indicators indicated that the bullish momentum was fading off the charts.
Bitcoin also retraced slightly on its chart. Many altcoins have also started to trade sideways following BTC's price action.
Bulls for Polkadot price can make a comeback if the coin manages to push above the $6.70 price mark. Consistent lateral trading can cause the altcoin to dip further on its chart.
It is important that Polkadot price remains above its local support level of $6.30. If the coin loses that support line, then there could be a further downfall.
The broader market continues to show mixed trading signals, with some coins losing strength while the likes of Dogecoin and Shiba Inu gain further bullish momentum.
Polkadot Price Analysis: One-Day Chart
Polkadot was priced at $6.36 on the one-day chart | Source: DOTUSD on TradingView
DOT was trading at $6.36 at the time of writing.
The altcoin had witnessed weeks of price consolidation until Bitcoin finally registered bullish price action.
Even though Polkadot's bulls pushed hard to break past the $6 price mark, the coin has seemed to lose its...