Here's today's analysis of Polkadot (DOT) ¹:
*Trade setup:*
- Bullish breakout from a Channel Down pattern is now being retested
- Near-term +10% upside potential to $8.00
- Stop Loss (SL) at $6.40
*Pattern:*
- Price was trading in a Channel Down pattern due to financial strain, after the winding down of Lido on Kusama and Polkadot
*Other information:*
- Polkadot-based stablecoin aUSD depegs after Acala Network breach
- Polkadot Parachains Launch $250M Fund To Grow Ecosystem
- Liquidity solutions for the Polkadot ecosystem
- Polkadot Is Deutsche Telekom’s Latest Crypto Experiment
- Polkadot’s Parachain Winners Make Strides in Building Sharded Ecosystem Parallel Finance wins Polkadot’s fourth parachain slot auction with $300 million raised
- Polkadot hits a new all-time high of $51 ahead of its very first parachain auctions getting approved
- Primer on Polkadot & Kusama Parachains
- Polkadot, Kusama Jump Ahead of Next Parachain Auction
- Cardano and Polkadot Report a Jump in Weekly Cryptocurrency Inflows
- Polkadot ecosystem coins