- Price has crossed $41.6 today.
- Polkadot price analysis favor bulls.
- Support for DOT is $38.41.
The Polkadot price analysis shows that the bulls have succeeded in making a comeback during the last 24-hours after a long bearish interval. A significant amount of recovery in DOT value has been observed as the price has increased up to $41.59 because of the latest upturn. The past few weeks proved extremely detrimental for the overall coin value, but now the situation is turning favorable for the buyers because of the increasing trend.
DOT/USD 1-day price chart: Cryptocurrency value bounces back to $41.6 after boost
The one-day Polkadot price analysis is showing signs of an upward trend as more buying activity has taken place in the last 24-hours. The buyers are putting in their efforts to maintain the bullish lead and the price has been uplifted to $41.59. Although the last two weeks proved quite damaging for the market value of DOT/USD, the past few days have brought positive consequences. The price is yet to cross the moving average (MA) value i.e. $43.31.
The increasing volatility is indicating that there is a chance of the cryptocurrency value going down due to bearish pressure. The Upper Bollinger band value has increased up to $56.91 whereas the Lower Bollinger band value has moved down to $38.41. The Relative Strength Index (RSI) score is now touching 43.76 after the latest uptrend in price.
Polkadot price analysis: Price regains balance at $41.6 after receiving a bullish push
The four hours Polkadot price analysis is confirming that the cryptocurrency has been following an uptrend for the past few hours. The bulls have been leading the market for a while, although a gradual drop in price was also observed in the earlier hours. But now the bulls are back on track as the price has been rescued up to the $41.6 mark. The moving average value in the four hours price chart has increased up to $40.79.
A crossover between SMA 20 and SMA 50 curves is highly expected in the next few hours as the bullish trend is getting stronger. The Bollinger Bands Indicator is now showing the following values; the upper Bollinger band value is $43.22 whereas the lower Bollinger band value is $38.45. The RSI score is entering the neutral zone now and has just crossed 49.
The market is observing a neutral trend as a constant fluctuation in price movements has been ongoing for the past couple of weeks. We can see 10 indicators standing on the selling mark, nine indicators are on the neutral mark while only seven indicators are on the buying mark.
The Moving Averages Indicator is supporting the sellers by giving out a bearish hint. A total of nine indicators are now occupying the selling position, while five indicators are on the buying and one indicator is on the neutral position. The Oscillators are indicating a neutral trend for the day as well as nine oscillators are on the neutral point, two oscillators are on the buying point and one oscillator is on the selling point.
Polkadot price analysis conclusion
The daily and hourly predictions for DOT/USD are supporting the buyers today as a bullish price movement is taking place. The price is on its way to recovery and has increased up to $41.59 because of the upward trend. If the bulls remain persistent, further improvement in the coin value is to follow in the approaching week.
Polkadot Price Analysis: DOT finds support at $24.35 after heavy selloff overnight
- 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.
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 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.
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.
Solana (SOL) vs Polkadot (DOT): Features and Perspectives
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:
- 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.
- 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.
- 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.
- 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:
- Fast transaction processing by distributing operations across parallel parachains.
- It is based on a completely decentralized network—user control.
- Simplified creation and connection of DeFi services.
- 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.
- No need to hard forks to implement updates.
- 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.
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.
Polkadot price to rally as Astar Network wins third parachain auction
- 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.
Congratulations to @AstarNetwork on winning Polkadot's third auction!
Astar will be onboarded at block #8179200 [Dec. 18] at the beginning of lease 6 with the other first 5 auction winners. Over 27.1K network stakeholders locked up DOT in favor!https://t.co/ZFSzeAhc4x pic.twitter.com/mABXLeRnKh— Polkadot (@Polkadot) December 2, 2021
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.
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.
Longterm, @ethereum won't lose the so-called 'scaling' race. Know why?
It's not a race at all.
MANY TOP QUALITY #crypto platforms WILL interconnect. #Ethereum is a key L1.
Certain #metaprotocols WILL bind #blockchains
( $DOT, #IBC etc) & in the L1 space, $ETH will make it too— Brad Laurie (@Brad_Laurie) December 1, 2021
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.