The Stellar project, specializing in crypto payments and working with fiat funds, has connected to the Kusama ecosystem using the Pendulum blockchain. In 1-2 weeks, Stellar will be connected to PolkaDot as well.

Read more: https://www.coindesk.com/business/2023/03/13/crypto-payments-specialist-stellar-bridges-fiat-and-stablecoins-to-polkadot/

#PolkaDot #CryptonResearchBot

Currently, $DOT is trading at $5.70, indicating a bearish trend in the market.

Based on the chart analysis, it is expected to reach the $5 target in the coming days.

It is essential to keep in mind that the support level for $DOT is at $5.61, and if it breaks, the price may drop below $5.

However, $DOT has strong potential for long-term growth, and investors should try to accumulate it during significant dips in the market.

The following support and resistance levels should be monitored:

Support: $5.61/$5.11

Resistance: $6.15

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Polkadot (DOT) price has flipped a crucial resistance level to support. It is expected to increase by at least 20% in April.

Weekly outlook

The Polkadot (DOT) price has been trading below the 20-week moving average (MA) since breaking below it in November 2021. This line has rejected prices multiple times, leading to a yearly low of $4.22 in December 2022.

Afterward, the DOT price increased and broke above the 20-week MA before approaching the long-term resistance zone at $7.6. Although it was rejected, the DOT price has successfully confirmed this MA line as support (green arrow). This is an important development because the 20-week MA is often used to determine long-term trends. Therefore, the long-term downtrend may have ended.

Currently, the DOT price is likely to rise to the $7.6 resistance zone again, marking a 20% increase from the current price level.

The RSI indicator has completed a bullish Failure Swing pattern by moving up above the high level between divergences and is sloping up, supporting the possibility of a price increase for DOT.

DOT/USDT weekly chart. Source: TradingView

Bullish pattern

After being rejected by the $7.4 zone, the DOT price dropped below the important support level of $5.9. However, this action turned out to be only a deviation as the price quickly recovered this zone and confirmed it as support on March 15th and 27th (green arrows). Such a deviation often leads to a strong upward trend thereafter.

In addition, this action has also formed a double bottom pattern. This is a price increase pattern that often leads to the continuation of the uptrend.

The RSI indicator has broken above the decreasing divergence line and is above 50, supporting the continuation of the uptrend.

Therefore, the DOT price is likely to continue to rise to the recent high of $7.6.

DOT/USDT daily chart. Source: TradingView

Conclusion

The most likely outlook shows that the DOT price will rise in April. The nearest target is $7.4 and higher to $9.5.

Breaking and closing below the 20-week moving average ($0.59) would invalidate this possibility and show that the price will drop to the annual low of $4.22.

#PolkaDot #DOT #DOTPrice #TechnicalAnalysis #azcoinnews

This article was republished from azcoinnews.com

Polkadot Update

Good news for #DOT enthusiasts! Despite a dip below the 20-day Exponential moving average at $4.95 between June 27 and June 30, the bulls held strong positions, indicating strategic buying at a lower price. $DOT

The current focus for #PolkaDot bulls is to break and sustain the crucial resistance level of $5.56. Once this barrier is conquered, the DOT/USDT currency pair is expected to soar towards $6/$7/$8.

However, reaching $5.564 may attract substantial short-selling pressure. Nonetheless, as long as the bulls prevent the price from dropping below $4.70, the chances of a rebound towards the downward trend line significantly increase.

Stay tuned for more quality updates.

#crypto #dyor #crypto2023

$BTC $BCH

Polkadot (DOT) Price Analysis: Technical Indicators Suggest Bearish Outlook in the Near Term

Polkadot (DOT) is a decentralized blockchain network designed to connect different blockchains together. Created by Gavin Wood, the co-founder of Ethereum, Polkadot has a number of benefits, including scalability, security, and interoperability. However, the price of DOT has been in a downtrend since reaching its all-time high in November 2021. In this article, we will analyze the technical indicators to determine the potential future price movement of DOT.

Technical Analysis:

The price of DOT is currently trading in a descending triangle pattern and has fallen below the 200-day moving average. This pattern typically resolves in a bearish breakout, with the price falling to the next support level. The next support levels for DOT are at $5.00 and $4.20. The RSI is currently below 45, which indicates that the market is oversold. The MACD indicator is also bearish, with the signal line crossing below the MACD line. These technical indicators suggest that the price of DOT is likely to continue to fall in the near term.

Factors That Could Impact the Price of DOT:

The overall state of the cryptocurrency market, news or announcements from the Polkadot team, and regulatory changes are all factors that could impact the price of DOT. It is important to do your own research before making any investment decisions.

What is Polkadot?

Polkadot is a decentralized blockchain network that connects different blockchains together, allowing for the transfer of data and assets between them. Polkadot is designed to be scalable, secure, and interoperable.

How Does Polkadot Work?

Polkadot is a two-chain network that consists of a relay chain and parachains. The relay chain is responsible for consensus and security, while parachains are independent blockchains that are connected to the relay chain. Parachains can be used to build a variety of applications, including DeFi, NFTs, and gaming.

Benefits of Polkadot:

Polkadot has a number of benefits, including scalability, security, and interoperability. If Polkadot is able to deliver on its promises, it could become a major player in the blockchain industry.

Conclusion:

The technical indicators suggest a bearish outlook for the price of Polkadot (DOT) in the near term. However, there are a number of factors that could impact the price of DOT, including the overall state of the cryptocurrency market, news or announcements from the Polkadot team, and regulatory changes. As with any investment, it is important to do your own research before making any investment decisions.

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Dr. Gavin Wood, the creator of Polkadot, made a groundbreaking announcement at the recent Polkadot Decoded conference, unveiling their goals of building a global supercomputer on the Polkadot network. Wood sees Polkadot as a worldwide supercomputer due to the fragmented and incompatible nature of the current internet infrastructure, emphasizing the need to create a platform where different blockchains can seamlessly share data and communicate over a decentralized network. #PolkaDot #DOT $DOT

Features of Polkadot:

Polkadot stands out as a platform that enables communication and data sharing among different blockchains. Wood highlights the importance of a platform where different chains can come together to form a cohesive network. Polkadot aims to be a scalable and interconnected platform that allows chains to communicate and share information.

Polkadot's unique architecture allows for easy movement of any data or asset across multiple blockchains. Rather than just being a tool to host chains, this platform positions itself as a platform where developers can build applications for people.

Resilience is also a significant feature of Polkadot. Wood emphasizes the capacity of Polkadot to resist attempts to interfere with its intended operation, using the term "resilience" instead of "unstoppable." This ensures the integrity of the network.

Supercomputer Capabilities of Polkadot:

Polkadot functions as a highly resilient general-purpose computation provider. The core of Polkadot is called Parachains, which continuously operate on the Polkadot network. Wood revealed plans to increase the number of cores from 50 to 500 or 1000 to enhance the computational power of Polkadot.

The cores of Polkadot possess characteristics such as bandwidth, computational power, and latency, similar to central processing units (CPUs). The current processing power of this platform is estimated to be around 1 MB/second. Additionally, Wood highlights the flexibility and comprehensiveness of Polkadot, stating that developers can run complex logic on Polkadot cores and handle many scenarios beyond the limitations of traditional smart contract platforms.

Scalability and Security of Polkadot:

Polkadot achieves excellent scalability and security through its relay chain and parachains structure. Parachains are separate chains that connect to the main relay chain, enabling parallel processing and higher transaction throughput. This allows Polkadot to handle multiple transactions simultaneously and is suitable for enterprise-level applications.

Democratic Governance and Decentralization:

Polkadot's governance structure is open and democratic. Token holders can participate in the platform's decision-making processes, making Polkadot a fair and inclusive platform. The decentralized governance strategy aligns with the fundamental principles of blockchain technology and provides a robust and secure framework for the development of the internet.

In Summary:

Under the leadership of Dr. Gavin Wood, Polkadot has solidified its position as a pioneer in the blockchain industry by introducing the concept of a global supercomputer. With its unique architecture, scalability, and democratic governance approach, Polkadot is a strong contender for the future of decentralized applications and services. Polkadot's concept has the potential to usher in a new era of frictionless communication and collaboration between blockchains and networks, transforming the internet as we know it.