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Polkadot

Moonriver Surpasses 8 Million Transactions as Polkadot Parachain Auction Progresses

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Moonriver, an Ethereum-compatible parachain running on the Kusama Network, hit a milestone this week by surpassing eight million transactions on its network.

Moonriver, a canary-test network for the Moonbeam protocol, reached a milestone this week by hitting eight million transactions on its network, becoming the leading parachain in Kusama.

  • The platform announced on Twitter that it had reached the multi-million transaction count on Nov. 10, making it the largest adopted parachain on the Kusama Network.
  • Moonriver is one of the many successful parachains on Kusama, and it has secured a parachain slot for 2022 with over 60+ live integrations, 173,000+ wallets, and 2,000+ ERC-20 tokens supported.
  • Kusama is the sister network of Polkadot, which soared 15% to a new ATH following the anticipation for parachain auctions, allowing developers to register their parachains and seek crowd loan funding.
  • Moonriver is a canary-test network of Moonbeam, meaning it’s a small version of the original Moonbeam code used to test and carry out new features for a subset of voluntary users. 
  • At the time of this writing, Moonbeam sits at the number two spot of Top Five Crowd Loans on Polkadot’s first parachain auction and has raised upwards of $1 billion through its crowd loan.

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Binance.US Prepares to List Polkadot (DOT) Soon

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  • Binance.US prepares to list Polkadot (DOT) soon.
  • The listing will occur at 8:00 AM EST / 5:00 AM PST.
  • Right after the listing, traders can trade DOT/USD and DOT/USDT pairs.

Binance.US has just announced that it will soon list Polkadot (DOT) on its crypto platform today. As per what the announcement says, shortly after the listing, Binance.US will open a live trading section on DOT/USD and DOT/USDT pairs.

This will eulogize traders with an interactive and eye-catching trading experience while having immense exposure to Polkadot services. Timely, the listing event has been scheduled to occur flexibly at exactly 8:00 am EST / 5:00 am PST.

As the entire crypto world awaits the Polkadot listing, traders can deposit their DOT holdings in preparation for trading. You can solemnly do this by visiting the Binance.US platform with more follow-ups to cover the steps and deposit.

Additionally, without depriving traders of their withdrawal right, Binance.US has pledged that it will enable withdrawal right after the trading goes live. With no secret, it is worth mentioning that this listing implementation will be one of the best achievements that Polkadot has garnered so far.

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Also, as the news reaches the crypto market, clearly the Polkadot community and its supporters may be in a happy mood. Polkadot is a network of blockchains that interconnect other blockchains through the project’s main “relay chain” to provide cross-chain interoperability and communication service to everyone.

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Polkadot price finds stable support that may help DOT resume bull run

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  • Polkadot price finds buyers at a primary support zone.
  • A three-week correction cycle is complete and resumption of the bull market likely.
  • New all-time highs are in sight.

Polkadot price has a very healthy-looking weekly Ichimoku chart, showing significant support. Compared to its peers, Polkadot price faces limited downside risks.

Polkadot price bounces, a renewed push towards $70 likely

Polkadot price recently ended  a strong sell-off triggered by a powerful cycle in Gann analysis known as Gann’s ‘death cycle.’ The ‘death cycle’ is a seven-week (49 to 52 day) cycle that Gann warned could terminate any move that showed persistent price movement at a high slope. Additionally, a three-week correction after the ‘death cycle’ is the most common reversion period.

Polkadot is trading against the most powerful support level combination possible on its weekly chart. The 2021 Volume Point Of Control and the weekly Kijun-Sen share the $33.50 value area, which is exactly where Polkadot has bounced. To now confirm a resumption of the prior uptrend, Polkadot price will need to return to and close above the weekly Tenkan-Sen at $42.00.

The Relative Strength Index shows some initial support against the first oversold level in the bull market (50). If 50 holds, then a bottom may be in for Polkadot. Additionally, the Composite Index has generated hidden bullish divergence – a condition that is often a precursor to a resumption of a prior bull market. 

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DOT/USDT Weekly Ichimoku Chart

Downside pressure and risks remain for Polkadot price, however. If the $33.50 value area fails as support, the next support zone to watch is the top of the Cloud (Senkou Span A) at $29.50. Any daily or weekly close below $29.50 could trigger faster and deeper selling pressure because the Volume Profile becomes thinner, the lower price moves. In other words, the lower Polkadot price moves below $29.50, the faster and easier it is for it to make further declines.

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Polkadot price analysis: DOT to test support at $32, support at $33.9 already crushed

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  • Polkadot price analysis is bearish today.
  • Resistance for DOT/USD is present at $34.4.
  • Support for DOT/USD is present at $32.

The Polkadot price analysis is bearish today. DOT/USD hasn’t found support yet, as the support at $33.9 has already crashed under selling pressure. However, DOT got some support around $33, but the downtrend has again begun as the bears have taken over control over the price function again. It is expected the DOT will continue to lose value today before recovering in the next trading session.

Overall the cryptocurrency market has observed negative sentiment with a bearish trend being followed by most coins, including the Bitcoin and Ethereum reporting losses from one percent to six percent mostly, with some coins reporting losses up to 11 percent today.

DOT/USD 1-day price chart: Bullish efforts declined

The 1-day price chart shows the price has decreased considerably today, and Overall DOT has been following a downtrend since 9th November, when the coin started to step down from the $53 level and has reached $33.7 at the time of writing today. The DOT/USD traded in a range of $35 to $32.8 today. The crypto pair reports a loss of more than six percent over the last 24 hours and a loss of 19.22 percent over the past week. The trading volume has also decreased today, but not much. However, the market cap has decreased by 5.49 percent.

Polkadot price analysis: DOT to test support at $32, support at $33.9 already crushed 1
DOT/USD 1-day price chart. Source: TradingView

The volatility is high for Polkadot, and the Bollinger bands are traveling downwards, which is not a good sign for the coming day. The lower limit of the Bollinger bands at $32.9 represents a support level for DOT to hold on, and the mean average at $41.9 represents the resistance zone for DOT, but it’s not relevant in the current scenario.

The relative strength index (RSI) has also stooped low to index 34. The RSI still maintains its downwards slope indicating the selling activity in the market. The moving average (MA) is present above the price level at the $38 mark.

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Polkadot price analysis: Recent developments and further technical indications

The 4-hour Polkadot price analysis shows the price breakout was downwards from the start of today’s session, and most of the damage was observed during the first four hours. Thereon some bullish efforts were observed, but bearish pressure ruled out any bullish activity and continued the downtrend.

Polkadot price analysis: DOT to test support at $32, support at $33.9 already crushed 2
DOT/USD 4-hours price chart. Source: TradingView

The volatility on the 4-hour chart has increased as the upper Bollinger band has reached $40 and the lower band is at the $31 mark, and the mean average of the Bollinger bands is forming at the $36 mark. The MA is present at the $34 mark, and the RSI still travels further low at index 33.

Polkadot price analysis conclusion

The Polkadot price analysis shows that the coin seems to be continuing the downtrend for today. If the price comes further down, then the next support zone is present at around the $31.6 level. However, traders can expect DOT to trade above the psychological mark of $30 for today.

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