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Tag: Polkadot (DOT)

  • Polkadot (DOT) lagging in bullish momentum

    Polkadot (DOT) lagging in bullish momentum

    Polkadot (DOT) can be observed to be trying to get on an uptrend. As the dust settles, the cryptocurrency market is slowly recovering. Most cryptocurrencies in the top hundred have turned green for a sustained period of time after a brutal crash that shocked everyone. Polkadot’s growth in the past twenty-four hours is a mere 2%; however, the fact that the cryptocurrency has embarked on a somewhat of an uptrend is more important. The daily trading volume of the cryptocurrency has declined by 24%. Ranked ninth in terms of market capitalization, Polkadot’s market dominance is at 1.25%.

    Polkadot (DOT) Technical Analysis

    Despite the bullish move, the market sentiment for Polkadot largely remains bearish. Polkadot has been lagging in bullish momentum ever since the market started to recover where other cryptocurrencies have been zealously on the upside move. Out of the twenty-six technical indicators, fourteen are giving out a signal of sell, ten stand at a neutral position while two indicators suggest buy.

    Polkadot (DOT) Technical Analysis
    Polkadot (DOT) Technical Analysis

    Polkadot (Dot) has been identified by a trader to be operating in a triangle formation. The cryptocurrency broke from the formation to the upside a few days ago amidst bullish divergence; however, the upside momentum cannot be sustained as the cryptocurrency got rejected at the resistance level. Ever since Polkadot has been oscillating in the formation. The price is on a downtrend, at the time of writing.

    Decentralized data feeds now on Polkadot (DOT)

    API3 – a decentralized API provider – has announced to integrate with Moonbeam – the platform which facilitates the process of the Ethereum application’s compatibility with the Polkadot blockchain. Moonbeam is a smart contract platform through which users can employ Ethereum on Substrate and Ethereum developers can also develop their decentralized apps. Moonbeam has cross-chain operability with Polkadot. The integration of API3 and Moonbeam will bring decentralized APIs to Polkadot.

  • Polkadot (DOT) regains bullish moment

    Polkadot (DOT) regains bullish moment

    Polkadot (DOT) stands at $36.35, at the time of writing. Polkadot crypto’s price has increased by 0.65% in the past twenty-four hours while the daily trading volume has gone up by 25%. Polkadot is the 8th largest cryptocurrency with a market capitalization of $33 billion. DOT coin has established its all-time high at $48.36 two weeks ago and after market corrections, the coin appears to be picking up the pace again.

    Poladot (DOT) Technical analysis

    The technical indicators for Polkadot coin are standing at a neutral position as the bulls and bears both vie for dominance in the market. Out of the 26 technical indicators, thirteen are giving out a buy indication with eight standing at neutral and only five indications of sell.

    A trader has given a bullish analysis for the coin. Per the trader, Polkadot crypto is set towards the moon. Polkadot can be observed to be operating above the 18-day Moving Average – indicating a rise in the price level. The immediate resistance level facing Polkadot coin lies at the 0.618 Fibonacci retracement level – at the price level of $39.46 – followed by $44 and $50. The trader has set a price target for Polkadot above $100 with the possibility of going even higher. However, if the bears dominate the market then Polkadot will be able to find stable support at 0 Fibonacci retracement which lies parallel to the price level of $26.

    Osprey’s Polkadot trust

    The cryptocurrency asset management firm Osprey Funds has announced the creation of a Polkadot (DOT) fund in order to allow their customer base to invest in the cryptocurrency. The trust’s management fee of 2.5% is also said to be exempted before 2023. Polkadot trust will be available at by private placement at $25,000 and above to qualified investors only.

    Greyscale Investments had taken a lead in creating a Polkadot fund along with others; however, the final details of Grayscale’s Polkadot trust are yet to be finalized which makes Osprey’s Polkadot trust the first of its kind in the market. The announcement of the fund may have been what accounted for the bullish momentum in DOT coin’s market.

  • Polkadot (DOT) Price Prediction: Rise to ?

    Polkadot (DOT) Price Prediction: Rise to $43?

    Polkadot (DOT) went as high as $48 in the bull run but, like the market norms is, the cryptocurrency suffered from market corrections. The price tried to reach upwards but succumbed to bearish pressures and has been on a downward trend. At the time of publication, Polkadot stands at a price level of $32. In the 24-hour timeframe, the price of the cryptocurrency has increased by 10% while the trading volume has gone up by 50%.

    Poladot (DOT) Price Prediction

    The market sentiment for Polkadot is bearish. Out of the 26 technical indicators, ten stands at a sell position while ten are neutral and only six are giving out a buy indication. The oscillators are neutral while the moving averages are mainly bearish.

    Trader Flytheus has set a price target of $45 for the cryptocurrency. The trader is suggesting a long position for the cryptocurrency and expects it to break the major resistance level of $42 Per the trader’s analysis, Polkadot has started to move upwards.

    Polkadot is a good long-term investment as the project is believed to possess potential. Wallet Investor estimates the cryptocurrency will hit $110 in a year’s time while the 5-year forecast stands at $423. Digital Coin Price predicts Polkadot to have a price level of $57 by 2022 while by 2028 it is expected to reach $144. Long Forecast is not as bullish on the cryptocurrency and predicts a rise to $43 by the end of the year but subsequently, the marginal increments diminish and Polkadot is projected stable at $50.

    What is Polkadot? 

    Polkadot is a multi-chain network designed to increase the interoperability of blockchains by allowing them to connect to Polkadot’s network. Polkadot allows different blockchains to interact as parachains on its blockchain as well as access the proof of stake validation and security of Polkadot. The project was designed by Ethereum co-founder Gavin Wood.