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Polkadot (DOT) is showing bearish signs below the $8 resistance against the US Dollar. The price could extend its decline if it fails to stay above $6.00.
After dropping below the crucial 200-day SMA, which was acting as support, DOT has managed to find support at the $6.40 mark and consolidate near this level.
Polkadot-related Peaq, a layer-1 blockchain network tailored for Decentralized Physical Infrastructure (DePIN) and Real-World Assets (RWAs), saw adoption from two major DePIN projects, MapMetrics and Natix Network, last week.
Inflows into the Newborn Nine ETFs fell by more than 50% during the past week to $126 million from $254 million, according to CoinShares weekly report. Per the report, these reduced inflows contributed to the third consecutive week's outflow of $435 million—the largest outflow since March—that major crypto-related investment products recorded during the week.
After breaking below the crucial 200-day moving average, Polkadot's price has found support around the significant $6.5 mark. However, a sudden break below this pivotal support could trigger a notable cascade in the short term.
The most optimistic analyst set a $100 future price tag for DOT.
Polkadot (DOT) has continued its downward trajectory, with the price still below the $7 mark as sellers dominate the market.
Polkadot experiences a drop in development activity while Cardano's development efforts surge.
Polkadot (DOT) has performed relatively poorly in the last few weeks in terms of price growth. However, top market analyst Michael van de Poppe sees AI boosting the performance of the cryptocurrency in the near future.
After showing signs of recovery early this week, Polkadot (DOT) traded below $7 again as it failed to reach a critical resistance level.
Polkadot's development activity declined last week, allowing Ethereum, BNB, and others to shine.
Polkadot's governance is currently mulling over a proposal to activate SnowBridge, a cross-chain bridge designed to link the Polkadot blockchain with Ethereum. A cross-chain bridge essentially serves as a decentralized application (DApp), streamlining asset transfers between blockchains to enhance token utility by fostering cross-chain liquidity.
Polkadot has been undergoing a prolonged corrective consolidation around the critical $6.5 support level, with the price retracing slightly toward the 100-day moving average. However, the short-term expectation is to continue this corrective consolidation phase.
The Web3 Foundation backs decentralized storage project StorageHub, while Polkadot founder Gavin Wood launches a new podcast.
This week, we take a closer look at Ethereum, Ripple, Cardano, Shiba Inu, and Polkadot. Ethereum (ETH) Ethereum's downtrend appears to be coming to an end as the price has decided to move sideways above the key support.
Parachains can connect to Polkadot by leasing a parachain slot on the Relay Chain. This slot can be leased for up to 96 weeks at a time, with the option of renewing it further.
In the latest insightful video, Aaron from Altcoin Daily delves into the current crypto scenario, highlighting key market developments and sharing his top picks for quality altcoins poised for growth. Let's unpack his analysis and explore the altcoins he's bullish on.
Polkadot has witnessed a reduction in network activity since the beginning of the month.
Polkadot (DOT) price has stagnated recently, failing to exhibit significant upward momentum. Instead, the prevailing bearish pattern suggests the likelihood of further declines in the near future.
Coingecko's Head of Research Zhong Yang Chan highlighted the emergence of spot Bitcoin Exchange Traded Funds (ETF) as the major boost for the industry in January.
StorageHub, a Polkadot parachain, is joining the decentralized data storage revolution, promoting efficiency and network accessibility through decentralized storage solutions. The network would be designed to serve as a public goods parachain, prioritizing larger data sets and file-based storage while upholding decentralization principles.
The Polkadot (DOT) price failed to get past the 20-day SMA, which was a key resistance level and has dropped back below $7.
Polkadot's recent price movement has seen it finding support from the crucial 200-day moving average, prompting a bullish retracement. However, despite this upward trajectory, the cryptocurrency faces several critical resistance levels ahead, casting doubt on the sustainability of the bullish retracement.
ADA was placed second after previously topping one important ranking.
