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  • Analysis
    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Ethereum Price Key Indicators Point Firming Case For Recovery Above $1,250

    Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet

    Bitcoin Price Consolidates In Key Range, What Could Trigger Next Move

    Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam

    Ethereum Price Offers Trade Opportunities After Recent Bullish Breakout

    Ethereum Price Another Rejection Signals Risk of Bearish Reaction

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Rallies 10%, Polygon Bulls Aim Big

    Rallies 10%, Polygon Bulls Aim Big

    XRP Whales Accumulate Massive Tokens

    XRP Whales Accumulate Massive Tokens

    Solana Rally Could Gather Pace above $30

    Solana Rally Could Gather Pace above $30

    BNB Price Rebounds Toward $250 But Risk of Drop To $200 Still Exists

    Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support

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DOT Hits New All-time High Above $50 Amid Increasing Network Functionality

2021-11-02
in Altcoins
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Polkadot Turns Green Amid Market Recovery, This Factor Can Ignite New $DOT Rally
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The Polkadot worth has risen 14% during the last 24 hours as DOT hit a brand new all-time excessive at $50.87. The Polkadot community strikes towards elevated performance as parachains loom.

The Polkadot worth rallied roughly 24% on Monday to register a brand new report excessive at $50.87, rising above the $49.35 Could report excessive.

Rising performance of the Polkadot blockchain community offers the hind wind propelling the DOT bullish run.

Parity applied sciences, the corporate behind Polkadot announced that “parachains” have been coming to the community on October 13. Parachains (parallel blockchains) discuss with full blockchains that shall be included into the Polkadot blockchain community to help in validating and securing transactions. Polkadot’s purpose is to extend the interoperability of blockchain networks therefore changing into the blockchain for blockchains. It will make the Polkadot community a layer-zero protocol.

After the announcement, the demand for Polkadot elevated as each the DOT worth and buying and selling volumes skyrocketed. Nevertheless, previous to yesterday, the value was held in a good worth vary between $40 and $45.

Polkadot Worth Rallies 14% To Set New File Highs

DOT worth bounced off the demand zone (inexperienced band) at $40.56 on the finish of the weekend as illustrated by the lengthy decrease wick on Sunday’s candlestick. This is a sign that traders have been getting in on the dips.

This bolstered the DOT bulls on Monday who’ve pushed the Polkadot worth 14% upwards during the last 24 hours. A rally that noticed the asset hit a brand new report excessive at $50.87.

DOT/USD Every day Worth

polkadot price

The bears, nevertheless, are decided to drag the DOT worth down. If Polkadot turns down from the present worth round $48.56 it’s going to discover assist on the $46.30 degree.

Due to this fact, count on DOT to take a breather on the finish of the availability zone at $46.30 after which a resumption of the upward motion to new report highs above $50 would be the subsequent logical transfer.

On the draw back, a slip under the $46.30 degree might see the Polkadot worth drop to tag the 50-day SMA at $36.76.

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