Connect with us

Polkadot

BIG THINGS ARE HAPPENING AT POLKADOT AS WEB 3.0 COMES CLOSER TO REALIZATION

Published

on

What a year for Polkadot, not only has its DOT token now crossed the all-time high, to trade at $30.22, it is also up 938% in the last year (15th feb 202-16th Feb 2021). If you had invested just $1000 one year ago on DOT, you would now have $9380. Not to be sniffed at.

But this all pales into insignificance when you look at the bigger picture and the latest Polkadot news, which they surreptitiously hid on their website.

PARACHAINS ROLLOUT

Polkadot, who are building a completely decentralized web controlled by the users, has rolled out its parachains. This is the final piece in the Polkadot puzzle according to the PolkaDot whitepaper and will allow the interconnection of different blockchains, enabling a seamless transition of data, information and transactions across the various blockchains.

Advertisement

Quoting Polkadot “After a period of testing, optimization and auditing, parachains will be ready for launch on Polkadot, and can be enabled via on-chain governance.”

 When parachains are launched then it will be up to the self governing Polkadot community to decide what comes next in terms of features and upgrades.

Polkadot whose mission is to “free society from its reliance on a broken web where its large institutions can’t violate our trust” has certainly taken a major step in connecting the dots for a larger and more seamless decentralized ecosystem.

Advertisement

WEB3 AND THE EXTRAORDINARY TEAM BEHIND THE PROJECT

It is this extraordinary project that has caused Polkadot to rise up in the ranks of leading projects. The team behind Polkadot and the Web3 foundation are certainly salubrious, they  include Dr. Gavin Wood who was co-founder and CTO of Ethereum. He was responsible for creating key parts of the original blockchain technology.

The current stage of the parachains project involves the testing and bug fixing on parachain testnets. Then community members will be called on to test the parachains in approval voting. Once the codebase is complete and running smoothly the community will vote on whether to enable parachains and slot auctions via on-chain governance.

Exciting days for the protocol and for the blockchain community at large.

Advertisement

News Source

Polkadot

Polkadot Price Analysis: DOT corrects below $30 mark, preparing uptrend

Published

on

  • Polkadot price analysis is bullish today
  • PolkaDot (DOT) has fluctuated in the range of $26 and $29.91
  • we may see a sideways movement in the Polkadot market

The Polkadot price forecast is bearish for today, as the market retraced over the last 24 hours after establishing a somewhat higher high yesterday. As a result, we expect DOT/USD to continue declining and to reverse more of its recent gains.

Polkadot price movement in the last 24 hours: Polkadot drops to $28

Over the past 24 hours, PolkaDot (DOT) has fluctuated in the range of $26 and $29.91, indicating a moderate amount of movement over that duration. Volumes have increased by 111.93% to $3.39 billion as the overall market value has declined to approximately $28.2 billion, putting it at position #11 overall. 

DOT/USD 4-hour chart: DOT set for further retracement?

Over the next several days, we may see a sideways movement in the Polkadot market, as shown by the 4-hour Polkadot price analysis chart.

Polkadot Price Analysis: DOT corrects below $30 mark, preparing uptrend 1

DOT/USD 4-hour chart. Source: TradingView

The price of Polkadot has increased significantly in the last few days. This week, after establishing a higher low around $23.5 on August 26, DOT/USD gained further momentum.

Advertisement

After that, the momentum slowed and a somewhat higher high was established, suggesting exhaustion, DOT had increased about 45 percent. This price movement has resulted in a minor retreat during the previous 24 hours, with $32 serving as support for now.

However, since bulls are likely to be exhausted, we anticipate DOT/USD to recover next week and regain some of the gains made this week. The next support level is $30, with further support at the $29 previous swing high.

Polkadot Price Analysis: Conclusion 

According to Polkadot price analysis, a retracement is on the way, with Polkadot’s downward price movement suggesting that a retreat is on the way. As a result, we anticipate DOT/USD to drop further over the next 24 hours, stopping at $30 as support.

Advertisement

News Source

Continue Reading

Polkadot

Polkadot price at make-or-break point as DOT awaits a range breakout

Published

on

  • Polkadot price spots a potential symmetric triangle pattern on the 1D chart.
  • RSI stands neutral at 50.00, suggesting a lack of clear directional bias.
  • 21-DMA offers immediate resistance, 50-DMA guards the downside.

Having faced rejection just shy of the $34 mark on a couple of occasions, Polkadot (DOT) bears are tightening their grip, as a fateful week draws to an end.

Polkadot price is set to book a second consecutive week of losses, as the crypto market sentiment remains undermined by the latest PBOC crackdown, a potential default story of China Evergrande property developer group and Fed’s tapering signal.

DOT price is shedding 1.75% on the day, currently trading at $30.33. Polkadot is down about 15% on a weekly basis.

Polkadot bears are testing the bullish commitments

On the daily chart, Polkadot price is traversing in a three-week-old symmetrical triangle formation, with DOT bulls having failed to find acceptance above the falling trendline resistance just below the $34.

Advertisement

Daily closing above the latter is critical to reverse the recent downturn, as it would validate a symmetrical triangle upside breakout, fuelling a fresh upswing towards the $40 threshold.

However, DOT buyers will first need to crack the immediate resistance aligned at the 21-Daily Moving Average (DMA) at $32.33 for any meaningful turnaround.

The 14-day Relative Strength Index (RSI) trades listlessly at the midline, suggesting that DOT price could yield a range breakout in either direction.

Advertisement

DOT/USD daily chart

If the 21-DMA barrier continues to guard the upside, then DOT price could extend the pullback towards the ascending 50-DMA at $28.38, which will offer an immediate cushion to DOT bulls.

Sellers would then aim for the horizontal 200-DMA support at $27.70. The last line of defense for DOT bulls is seen at the rising trendline (triangle) support at $26.33.

A sustained break below the latter would confirm a triangle breakdown, calling for a sharp drop towards the mildly bullish 100-DMA at $22.08.

Advertisement

News Source

Continue Reading

Bitcoin

BTC, ADA, BNB and DOT Price Analysis for September 25

Published

on

Can altcoins retain their power against Bitcoin (BTC) in the mid-term scenario?

The weekend has begun with the bounceback of the cryptocurrency market as all of the top 10 coins are again in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has risen by 3.32% over the past 24 hours.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Despite the bounceback, Bitcoin (BTC) has not yet come back to the bullish zone as the chief crypto has not fixed above the resistance zone of $48,500.

However, if sellers keep pushing the price deeper, the drop may continue to the zone of the most liquidity around $37,000.

Advertisement

Bitcoin is trading at $42,591 at press time.

ADA/USD

Cardano (ADA) is the biggest gainer from the list today as the price has rocketed by 10%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Cardano (ADA) has successfully bounced back to the support at $2.104 and is now trying to recover the lost positions. At the moment, the more likely scenario is accumulation in the range of $2.30-$2.50 so that bulls can get more power to get back to the resistance at $2.80.

ADA is trading at $2.380 at press time.

Advertisement

BNB/USD

Binance Coin (BNB) has gained less than Cardano (ADA), with a growth of 3.85%.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

Despite the rise, Binance Coin (BNB) is located near the support zone, which means that bulls have not seized the initiative thus far. If the breakout happens, there may be a sharp fall to the next vital level at $240.

BNB is trading at $352 at press time.

DOT/USD

Polkadot (DOT) is trying to keep up with the rise of Biance Coin (BNB), as the growth has constituted 6.23%.

Advertisement
DOT/USD chart by TradingView
DOT/USD chart by TradingView

Despite the rise, Polkadot (DOT) is trading below the vital $35 level. At the moment, neither buyers nor sellers are dominating, which means sideways trading is likely to continue within the next few days.

DOT is trading at $30.60 at press time.

News Source

Advertisement
Continue Reading

Trending