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