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Polkadot and Filecoin now available on eToro! Should you buy DOT and FIL?

New cryptocurrencies have been available from the online broker eToro since yesterday! eToro, which offers one of the most popular trading platforms in the world, announced yesterday the addition to its cryptocurrency offer of Polkadot and Filecoin.

In its official announcement, eToro recalled that 31 cryptocurrencies are now available on its platform following the addition of DOT and FIL. Prior to that, eToro had already added Chainlink, Dogecoin, Uniswap, Aave and Compound to its platform.

31 cryptocurrencies now available at eToro

Commenting on the additions of Polkadot and Filecoin, Doron Rosenblum, vice president of business solutions at eToro, said:

“Despite recent volatility in the cryptocurrency market, we continue to see growing interest in this asset class from institutional and retail investors, who believe in the long-term potential of cryptocurrencies. We are committed to providing our users with more opportunities to diversify their portfolios with a wider range of crypto assets. We will continue to expand our range of crypto assets with new cryptos coming soon. ”

Since these cryptocurrencies are now easily accessible via eToro, the question arises of whether to buy them or not. We will try to answer this question below for each of the two cryptocurrencies.

Should you buy Polkadot?

Polkadot is currently the 10th most important cryptocurrency on the market, with a capitalization of $ 29.37 billion, slightly below that of Dogecoin, which occupies the 9th position.

The Polkadot crypto has posted a staggering rise of over 640% over the past 12 months, and still shows a positive trend, as seen on the daily chart below.

An uptrend line indeed supports the progression of the Polkadot since the low of July 20. Additionally, strong support around $ 25 also offers some downside protection as the Polkadot is currently worth $ 30. As for goals, the next wave of Polkadot’s upside could see it aiming for a return to its May record close to $ 50.

Is Now the Right Time to Buy Filecoin?

The Filecoin, which appears in the 25th position of the ranking of cryptocurrencies, displays, unlike the Polkadot, an overall upward daily trend, the graphic context of the Filecoin is degraded.

After peaking at $ 238 in April, Filecoin plunged to $ 40 in July, before tripling in value, rising to $ 120 in early September. Since then, Filecoin has corrected violently, and is currently trading at $ 70.

To find a bullish profile in daily data, Filecoin will need to cross several key thresholds, starting with the $ 90/100 zone. On the other hand, buying Filecoin now allows you to take advantage of significant upside potential, with the FIL currently worth 4 times less than its April high.

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