TA – Polkadot Price Shows Strength, Eyes $10

The price of Polkadot (DOT) shows strength after bouncing from key support on the weekly chart against Tether (USDT). After Bitcoin (BTC) bounced from its monthly low of $19,000, this signaled a relief for other crypto altcoins including the price of Polkadot.

Timeline of Polkadot-new

Polkadot price analysis reveals that the DOT/USD pair is in a bullish trend as it shows potential to resume its uptrend. The pair is currently trading at $8.37, and a breakout above the $8.43 resistance could see it target the $9 level.

While Polkadot [DOT] ended July strongly, the start of August was on the opposite side. On the last day of the previous month, DOT increased from $8.2 and went as high as $9.11—driving good profits for its short-term investors.

Can Polkadot (DOT) hold on to dear life as its price nosedived by 4% on the daily charts right after it peaked at $8.84? The $8 support line is seen as a critical zone for the coin, especially with the prevailing seller pressure going on.

Polkadot price analysis has turned bearish today, as price dropped more than 9 percent over the past 24 hours. DOT seemed to be targeting the $10 resistance after embarking on a strong bull run that initiated on July 26, 2022.

The Polkadot price analysis indicates profit booking at a higher level. However, the correction from the higher levels was due following from an extended uprend that took price to $9.20.

Web3 Foundation, the organization responsible for doling out grants on Polkadot, has passed the milestone of 400 approved projects. The post Web3 Foundation passes 400 project grants on Polkadot appeared first on CryptoSlate.

Polkadot rises 4% and sets eyes on the $9 price range while in the past week, DOT remained optimistic and registered a 7% increase in value so let's read more today in our latest cryptocurrency news.

Polkadot price analysis remains largely bullish following from an extended uptrend that took price as high as $8.84 yesterday. However, DOT has lost over 4 percent in price since then over the past 24 hours.

DOT just concluded the week with an impressive bullish rally, one which has allowed it to retest previous resistance levels. In fact, the same seemed to be in line with how most other cryptos have done lately.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. For over eight months, Polkadot [DOT] has been struggling to bring forth a change in the long-term bearish narrative.