DOT tests support levels as Polkadot partners with German telecom giant

DOT tests support levels as Polkadot partners with German telecom giant
фото показано с : invezz.com

2022-1-1 17:51

Polkadot (DOT/USD) had attempted to make major bullish gains last week, but this uptrend failed to materialize. The recession happening across the market has disrupted these bullish gains; hence the token is making a downtrend towards lower levels.

Last week, DOT made a major bullish run due to the first parachains launching on the platform. However, now that the news of this launch has died down, DOT is now headed towards a price correction.

DOT testing support levels

Last week marked a major recovery in DOT’s prices. After hitting an all-time high in early November, DOT has been making significant losses, and now it seems like the downtrend could have reached exhaustion, and the token is now recovering.

The token is currently trading at the support level of $28. This is a crucial level for the token because if it fails to hold, the coin could enter another strong bearish mode that could erase the weekly gains.

If it fails to hold $28, the other lower support level lies at $26, which is currently the weekly low for the token. Dips in prices are possible, given the token’s trend over the past few weeks.

On the upside, the broader market is showing slight signs of making a recovery in prices, and this could aid DOT in making another uptrend. If the token gains, it could push towards the resistance level at $30. The gains could also be triggered by buyers coming back into the market after a long recession.

Polkadot signs deal with German Telkom giant

The Polkadot network has also announced entering into a partnership deal with T-Systems MultiMedia Solutions (MMS). Following this deal, Deutsche Telekom, one of the leading telecom companies in Germany, will receive DOT tokens.

The company has not announced the total amount of DOT tokens that it will receive following this deal. However, T-Systems MMS will now be a validator for the Polkadot network, and it will support the secure transmission of messages between independent blockchains running on Polkadot.

The telecom giant company has been keen on boosting independence and decentralization. Therefore, the partnership will enable the company to continue meeting its goals of having a decentralized system. On the other hand, it will also allow Polkadot to support the interoperable system it is creating through the parachains because the independent blockchains that win the slots will easily communicate.

The post DOT tests support levels as Polkadot partners with German telecom giant appeared first on Invezz.

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Dotcoin (DOT) на Currencies.ru

$ 0.0055765 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0055765 - H: $0.0055765
Капитализация $1.74m Rank 99999
Доступно / Всего 312.018m DOT / 890m DOT

bullish gains polkadot dot levels materialize across

Источник: invezz.com

bullish gains → Результатов: 126


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