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Polkadot

Polkadot price analysis: DOT recovers to $47 as bulls regain momentum

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  • Polkadot price analysis is bullish today.
  • Resistance for DOT/USD is present at $47.5.
  • Support for DOT/USD is present at $44.8.

The Polkadot price analysis shows bulls are leading the charts today. The DOT/USD is recovering from yesterday’s loss, but the progress is not remarkable as some resistance is also present around the $47 threshold. However, the support of $44.8 is strong enough to keep the DOT/USD afloat.

Yesterday the bears hindered price progress, but DOT declined further downside when the price reached $46.3. The loss was small, but the gain of today seems much smaller comparatively as price oscillation is slow due to low trading volume.

DOT/USD 1-day price chart: Bulls slow in progress

The Polkadot price analysis shows that the coin is trading at $47 at the time of writing, as the bulls have covered a little upwards range today. The Polkadot price analysis further shows that DOT/USD has gained a nominal value of over 0.5 percent value in the last 24 hours and has lost about 12 percent value over the course of the last seven days. The trading volume is also down by 12.4 percent, and the market cap has suffered by 0.76 percent.

Polkadot price analysis: DOT recovers to $47 as bulls regain momentum 1
DOT/USD 1-day price chart. Source: TradingView

The volatility is high for Polkadot, as the Bollinger bands started expanding on 25th November and still covers a wide area with the upper Bollinger band at the $56 mark and the lower band is at the $39 mark, the average of Bollinger bands is forming at $48 above the price level representing resistance for the coin.

The relative strength index (RSI) is on a slight upwards trend and is present in the upper half of the neutral zone at index 51. This indicates a positive market sentiment for the DOT/USD pair among the traders.

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Polkadot price analysis: Recent developments and further technical indications

The 4-hour Polkadot price analysis shows despite the fact that the price has increased, the presence of bearish elements has also been observed, as bearish activity has been observed during the first eight hours, and a deficit in price has happened during the said time frame. But thereon, bulls have again held their position and are trying to uplift the price.

Polkadot price analysis: DOT recovers to $47 as bulls regain momentum 2
DOT/USD 4-hours price chart. Source: TradingView

The volatility is low on the 4-hour chart as the Bollinger bands cover less area, and the price is trading below the upper Bollinger band, which represents resistance for the crypto pair. The relative strength index (RSI) is on an upwards trend at the center of the neutral zone and is present at index 49. The moving average is present below the price level at the $46 mark.

By rounding off the technical indicators, most of them are inclined towards the bullish side. Out of a total of 26 technical indicators, 11 suggest buying of DOT/USD assets, and six suggest selling options, thus indicating a bullish trend. At the same time, nine technical indicators stand neutral and do not favor either side of the market.

Polkadot price analysis conclusion

The Polkadot price analysis shows the price oscillation is slow but on the recovering side. As we know, the $47 mark has been a tough point for Polkadot to break through, and bullish momentum is not strong enough at the time. We expect the DOT needs more support from the market for a push towards the higher side.

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Polkadot

Polkadot Price Analysis: DOT finds support at $24.35 after heavy selloff overnight

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  • Polkadot price analysis is bullish today.
  • DOT/USD dropped over 35 percent since the last high.
  • Support was found at $24.35 this morning.

Polkadot price analysis is bullish today as we expect recovery to follow after a quick reaction higher from the newly found swing low. Therefore, we expect DOT/USD to move higher later today and look to retest previous support as resistance at $33.

Polkadot Price Analysis: DOT finds support at $24.35 after heavy selloff overnight 1
Cryptocurrency heat map. Source: Coin360

The crypto market overall saw strong selling pressure over the last 24 hours. The market leader, Bitcoin, declined by 16.54 percent, while Ethereum 13.81 percent. Meanwhile, the rest of the top altcoins follow with an even bigger loss.

Polkadot price movement in the last 24 hours: Polkadot continues to decline, spikes below $25

DOT/USD traded in a range of $24.72 – $36.49, indicating strong volatility over the last 24 hours. Trading volume has spiked by 207 percent, totaling $2.83 billion. Meanwhile, the total market cap trades around $27.83 billion, ranking the coin in 9th place overall.

DOT/USD 4-hour chart: DOT starts to react higher

On the 4-hour chart, we can see the Polkadot price action finding strong support at $24.35 this morning, likely leading to swift recovery over the next 24 hours.

Polkadot Price Analysis: DOT finds support at $24.35 after heavy selloff overnight
DOT/USD 4-hour chart. Source: TradingView

Polkadot price has seen a steady decline over the past weeks. After the previous low at $33 was reached on the 28th of November, DOT/USD slowly retraced higher.

Another lower high was set around $39, leading to a slow decline again during the first days of December. After some consolidation on Thursday, DOT started to rapidly move lower Yesterday.

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The previous low at $33 was quickly reached and clearly broken, opening the way for a lot more downside. Overnight, strong selling pressure continued, taking the Polkadot price to a new low at $24.35. However, buying pressure has quickly returned since, likely leading DOT/USD to recover most of the loss over the weekend.

Polkadot Price Analysis: Conclusion 

Polkadot price analysis is bullish today as we saw a strong decline end with a quick rejection from the $24.35 mark. Therefore, we expect DOT/USD to regain the loss and move towards the previous low around $33 next.

While waiting for Polkadot to move further, see our articles on the Best Crypto Wallet 2021, Decred Wallet, and Ripple vs SEC.

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Solana

Solana (SOL) vs Polkadot (DOT): Features and Perspectives

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Decentralized applications (dApps) have found their application in different directions: online games and virtual casinos to financial projects. A common problem for developers and users is the speed of the network bandwidth. The most common blockchain for dApps is Ethereum. However, the increased demand is overwhelming the platform. The race for performance leads to the emergence of new projects. Among such projects, Solana and Polkadot are the most popular. Let’s compare these projects and Polkadot with the DOT token vs. Solana with the SOL token.

Distinguishing Features of Solana and Polkadot

Solana cryptocurrency has many features that make it stand out among hundreds of other digital assets:

  1. The architecture is theoretically capable of processing up to 710,000 transactions per second. So far, a result of 60,000 operations has been achieved. But even this figure makes it one of the fastest videos to use.
  2. The network is designed so that it can easily handle growing workloads. Several technological innovations, including the original Proof-of-History protocol, make this platform a flexible and highly scalable tool.
  3. The project has made savings in audience size. In 2021, several hundred thousand users will be using the Solana network in November. Thanks to this, it was possible to maintain a low price for transactions within the system and in decentralized applications on the site’s platform.
  4. A high degree of compatibility is achieved by eliminating the need for users to deal with shards or second-level systems. Solana can interact with other crypto platforms as well.

Polkadot features that make this project stand out in the cryptocurrency market:

  1. Fast transaction processing by distributing operations across parallel parachains.
  2. It is based on a completely decentralized network—user control.
  3. Simplified creation and connection of DeFi services.
  4. High interoperability. It is possible to interact with all parachains that are included in the network. Free transfer of assets and any data is carried out.
  5. No need to hard forks to implement updates.
  6. Providing complete security for all blockchain projects connected to the network.

The Future and Prospects of SOL and DOT

Serious partners believe in the Solana project. For example, in early June 2021, Solana raised more than $ 314 million through a private token sale. Significant investments followed from Andreessen Horowitz. This firm once invested in other well-known projects (Skype, Facebook and Twitter).

Time will help to understand the platform’s applicability. As of July 2021, the system works in test mode, which does not cause failures. For example, the incorrect operation of the blockchain eight months ago led to the stoppage of all services for 6 hours.

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Polkadot is a promising digital currency that has not yet reached its maximum price because the project is under active development. In 2021, according to the Roadmap, ideas and services will be implemented that will positively affect the course. Large companies and developers will start buying tokens for free “slots” on parachains to become part of the decentralized ecosystem. This can lead to the growth of the system.

The outlook for dot vs solana depends on the amount of blockchain used. The number of their partners is growing. But so far, the projects remain at the level of a startup with good potential.

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Polkadot

Polkadot price to rally as Astar Network wins third parachain auction

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  • Astar Network won the third parachain slot auction with over 27,100 contributions. 
  • Polkadot reveals that the first five parachain winners will launch on December 17. 
  • Binance US announced Polkadot’s listing on its exchange platform today. 
  • Analysts have a bullish outlook on Polkadot price in the short-term, set price target at $50. 

Polkadot’s third parachain slot auction ended today, with Astar Network’s win. December 17 is a key milestone for Polkadot as that is when the first five parachains launch on the platform. 

Polkadot price awaits trigger, first five parachains to launch on December 17

The third parachain slot auction concluded today. 

Astar Network, a multi-chain Polkadot dApp hub, formerly known as Plasm network, won the parachain slot. The protocol has received 27,100 contributions. The Polkadot native dApp hub supports Ethereum, WebAssembly, dApp staking and layer-2 solutions. 

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December 17 is an important date for Polkadot holders as the first five parachain slot winners launch their project on the altcoin’s platform. Proponents expect the event to have a bullish impact on Polkadot price.

Binance, the world’s largest cryptocurrency exchange, listed Polkadot on its US platform. 

Polkadot network has attained ‘sharding’ or the existence of parallel blockchains in its network to increase speed and efficiency. This has fueled the altcoin’s adoption among users. Despite Polkadot’s rising adoption and popularity, proponents are of the opinion that the altcoin is unlikely to displace Ethereum as the number one altcoin. 

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Ethereum is unlikely to lose the scaling war in the long term. Brad Laurie, a cryptocurrency educator, believes that layer-2 platforms will interconnect. Metaverse protocols like Polkadot will bind blockchains in layer-1. 

A cryptocurrency analyst on “Huefin News” has set a bullish target of $50 for Polkadot price. The analyst expects a bullish divergence in the altcoin’s price, unlike the trend in the month of November 2021. 

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