On November 18 the stars all align for Polkadot

Polkadot is still ranked 8th in the ranking of Coinmarketcap. As projects gain and lose places, DOT stays right in the fight. So much so that little Polkadot seems a little asleep. But the explosive news that is being played around this unique blockchain could well shatter the established order.

  • Polkadot remains a unique project with an unrivaled value offer
  • Parachain auctions start slowly, and the amounts are already collosal
  • Technical analysis remains very positive for DOT
  • We are only waiting for the starting signal of this corner

Polkadot, the blockchain of blockchains

Polkadot is a unique exchange and interoperability solution. It allows the connection between public blockchains and parachains specific. Thanks to this interoperability, Polkadot is positioned in front of many other protocols wanting to be its competitors. Because its operating technology makes it possible to do without an exchange for the exchange of crypto and thus reduce the cost of transactions.

1xbit

In addition, Polkadot is currently capable of processing 1000 transactions per second (tps). Where, without a second layer solution, Ethereum currently can only process 20 and Bitcoin only 7. Of course SOLANA claims 50,000 tps. But Polkadot, constantly evolving, may be able to process 100,000 once its full technological potential is reached.

The DOT in full bullish growth

On the strength of all these very positive points, Polkadot has seen his course explode in recent weeks. Also thanks to the auction of parachains, eagerly awaited on its blockchain.

Those auction mean that huge projects are going to have to own and spend a lot of DOT, to gain the privilege of developing their parachute technologies in the best blockchain environment there is today. On November 15, DFG Group, a large global blockchain investment company, announced its intention to invest no less than 300,000 DOT tokens to support Astar Network’s parachain offering.

In addition, Polkadot should take advantage of parachain auctions to achieve its fragmented proof of stake protocol.

Polkadot, an investment for the future?

What is certain is that for the past few weeks, the cryptocurrency DOT fuels conversations. According to on-chain data provided by Santiment, 17% of discussions related to the top 100 crypto assets ranked by market capitalization mention DOT.

Another interesting fact: analyst Michael Van de Poppe said recently: “DOT could continue towards 75 dollars if the pivot points are maintained”.

This prediction is very likely if we observe the evolution of the price of DOT since its ATH of May 15, 2021, which had propelled it to 50 dollars. After the correction observed across the crypto market at the end of spring 2021 and after finding its lowest point on July 20 with a quote of 10.31 dollars, the price of the DOT has since registered an increase of 400%. This allowed him to realize on November 4 a new ATH to more than 56 dollars.

Since the new correction noted from November 9, having found its lowest on November 16 during a mini flash crash, the DOT has recorded a drop of 29.90%. This correction, which could be described as healthy for the purge it allows, could allow the entire crypto market to revive. And therefore to benefit the DOT, which remains let us not forget, in a bullish momentum of 370% since last July.

Clear skies for DOT

There is no doubt that DOT is an asset on which there is a good chance of making good profits in the future.

Future projects, as well as the technological evolution of Polkadot are as many promising perspectives for a course which will perhaps reach unthinkable levels for the time being. After all, we must not forget that Bitcoin at one time also traded at a similar price.

This is the reason why any informed crypto investor should have DOT in his crypto portfolio.

At the time of writing, the DOT seems to have found the low point of the correction by bouncing off 0.618 Fibonacci. Appreciated in H4, the price chart has clearly drawn a double bottom, synonymous with potential bullish recovery. The RSI, also rebounding with a double bottom, has returned to the neutral zone and seems set to go and test resistance the old support zone of 46.45 which, if crossed, would open the way directly to the key level of 50. from RSI. Finally, the MACD indicator has just completed a “cross bull” and the acceleration of buying momentum seems clear.

All of this could be the signal for a good reloading point in the key area between the 0.618 and 0.786 Fibonacci and allow a 10% gain to be considered calmly in the coming days. These short-term indicators are all very encouraging signs for upward continuity in the medium / long term.

After a long acceleration at the start of the year, DOT has no longer really thrilled investors. Stuck under $ 50 for several months, the future seems to be shaping up differently. Polkadot, a decidedly very attractive blockchain solution that has certainly not finished surprising us.

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