Polkadot price analysis: DOT Price levels sink to $6.97 after latest bearish turn

Today's Polkadot price analysis reveals that prices are on a prevailing downtrend that has been seen since yesterday's market rally. The 8.78 percent drop in prices has decreased DOT to $6.97 from the intraday high of $7.66.

Timeline of Polkadot-new

The Polkadot price analysis reveals that the price has spiked higher today. Bulls have made a strong comeback today; even the trend remained bullish yesterday as well, but a few hours of bearish activity changed the trend as a strong correction took place.

Web3 and blockchain projects are taking a hard look in the mirror as the crypto winter passes through every corner of the industry. The post Polkadot: What Web3 Platforms can Learn From the Multichain Network appeared first on BeInCrypto.

Polkadot [DOT] is beginning to emerge as the “greenest” layer 1 blockchain as latest data reveals. As we know, Ethereum [ETH] is shifting from Proof-of-Work to an eco-friendly Proof-of-Stake mechanism.

Market sentiment as regards the reception of Bitcoin's continuous fall in price has made investors and traders accept that another winter is here. Bitcoin has moved sideways in the 20–25k region for an extended period; we've even seen it fall below 20k several times, though often with a quick bounce.

The price has slightly dropped again today as the bears took charge of the market once again, as per Polkadot price analysis. After the continuous bullish activity of the last three days, the price function has imbalanced again, and the price has been lowered up to the $7.27 level.

Polkadot (DOT) is in a downtrend, but is fluctuating above the $6.80 support. Since August 28, the cryptocurrency has been fluctuating between $6.80 and $8.00 price levels. On August 24, buyers were rejected when they tried to break the $8.00 high.

peaq, the Web3 network leveraging Machine DeFi and Machine NFTs to power the Economy of Things (EoT), has integrated with Fundrs to unlock cross-chain fundraising for the Polkadot (DOT/USD) developer community.

Polkadot's parachain Moonbeam, implemented LayerZero, the cross-chain communications protocol, on August 29, 2022, to improve Web3 compatibility. Moonbeam And Making It A Hub Of Activity Polkadot's parachain Moonbeam implemented LayerZero.

The Polkadot price analysis is bullish as the market sentiment is still positive towards DOT, and the cryptocurrency has been on recovery since yesterday. The situation is favorable for buyers even today as the price is still recovering after a considerable decline in the last week.

Kylin network (KYL) has emerged winner of the latest parachain auction 25 on Polkadot (DOT). The post Kylin network wins parachain auction 25 on Polkadot appeared first on CryptoSlate.