📊 Polkadot Price Recap: $DOT Trades Back Above $7
Polkadot (DOT) continues the battle to keep above the $7 mark. DOT started the week off trading below its support level, regaining its strength to gain 4% over the past week.
The battle continues as Polkadot claws its way back to trade above $7. The coin saw a good week, gaining 4.08% in the past seven days, at $7.02.
🔸 Polkadot ($DOT) Barely Maintains Recovery
Polkadot (DOT) Barely Maintains Recovery
After starting the week close to its bearish support level of $6.40, DOT managed to recover over the week to trade above $7. The week started with a volatile session in which DOT traded between $6.48 and $6.83. Monday’s session eventually settled at $6.67. Sellers took control of the price on Tuesday, pushing DOT down by almost 3% to $6.48. The Wednesday session saw DOT rebound from its support level.
DOT’s price rose above the $7 mark, settling at $7.03. Friday’s session saw the price settle higher at $7.20, with Saturday’s session ending around a similar price.
On Sunday, sellers appeared to gain control, with $DOT hovering between $7.00 and $6.99, dropping by 2.45%.
🔸 User Engagement At A Record High
$DOT’s upward momentum this week appeared to be spurred by high user engagement and activity on Polkadot, with active address hutting an all-time high for a second consecutive month. By the end of April, the network recorded 650,000 active addresses, significantly higher than in March.
🔸 The rise in active addresses is attributed to Polkadot’s parachain, Moonbeam.
Polkadot’s good week has further driven an announcement by the Founder Institute. The Founder Institute announced it entered a strategic partnership with Polkadot to lead the first Web3 cohort within its Core Program.
