Polkadot pumps 6.53% but is the token now bullish?

Polkadot pumps 6.53% but is the token now bullish?
фото показано с : coinjournal.net

2022-8-24 00:27

Polkadot surged the most among cryptocurrencies in the top 20 category

Santiment data shows a rise in projects building on the Polkadot ecosystem

The token faces an immediate resistance

Polkadot DOT/USD rose more than 6% in 24 hours on Tuesday. The gains were the highest among cryptocurrencies in the top 20 categories. Most tokens were showing sluggish recoveries, while others remained in the red zone. 

No notable news was responsible for Polkadot’s gains which are largely a recovery from the recent dip. Nonetheless, Polkadot has been witnessing a surge in activity in the past one month. A Santiment data as of August 22 showed that Polkadot was the second in terms of development activity. A total of 400 development activities were recorded on the Polkadot ecosystem in the last 30 days. The top blockchain for the development activities was Ethereum, with 401 projects.

The high development activity on Polkadot suggests an increased demand that boosts the native token. While we cannot connect the latest recovery with the development activity, it could still be a bull trigger. Polkadot still has room to run if the latest rally is to be sustained.

Polkadot recovers but faces immediate resistance

Source – TradingView

From the daily chart, Polkadot is trading at $7.60, slightly below a key resistance at $7.9. The price is bullish although the MACD indicator remains below the moving average.

DOT is likely to continue surging short-term, but investors should anticipate resistance at $7.9. DOT has to clear the resistance to see long-lasting gains. Investors should watch for a breakout at the key resistance to add positions.

Summary

DOT remains subdued, but the price has recorded recoveries. Development activity has been surging in the past month. The token faces resistance at $7.9 with a potential to break higher.

The post Polkadot pumps 6.53% but is the token now bullish? appeared first on CoinJournal.

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Polkadot [IOU] (DOT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.28 %, 7d: -19.29 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 296.73 (-100%)

polkadot token bullish pumps shows data coinjournal

Источник: coinjournal.net

polkadot token → Результатов: 126


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2020-7-23 23:16


Crypto Ratings Council May Rate Tron (TRX), Polkadot (DOT), and Nervos (CKB) Token As Securities: Unofficial Report

In an unofficial report from CRC in April, obtained by TheBlock, Tron (TRX) ranks among the most likely cryptocurrencies to be deemed a security alongside DOT and Nervos’ CKB token. The Crypto Rating Council is a group of cryptocurrency communities and projects that come together to weigh the digital assets on the “Howey Test” scale […]

2020-6-3 17:42


What is Polkadot? Blockchain interoperability explained

While many a blockchain project has been created so far to cover various areas of our daily existence, these projects are often times not as intertwined as we’d like them to be. This lack of connectivity between blockchain projects can be a real problem: say you invested money into one token and would like to […]The post What is Polkadot? Blockchain interoperability explained appeared first on CaptainAltcoin.

2020-2-20 15:55


Фото:

Запуск основной сети проекта Polkadot состоится до конца года

Приватный токенсейл, направленный на финансирование проекта Polkadot, создателем которого выступает один из основателей Ethereum Гэвин Вуд, был успешно завершен. Благодаря организации привлечения средств капитализация стартапа выросла до $1,2 млрд.

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