Bitcoin and Ethereum’s loss is Polkadot’s gain.
That’s the gist of an article today at NewsBTC from Aayush Jindal that shows the technicals of the new challenging altcoin Polkadot that helps stakeholders to raise capital in a decentralized environment.
Today, Polkadot is near all-time highs at around $17.30.
The coin value has registered a 200% increase in just one month, as traders and investors give new attention to the idea that a blockchain can innovate fundraising.
“After a close above the $12.00 level, DOT started a fresh rally above the $15.00 resistance level. There was a strong bullish momentum above $15.00 and the price even climbed above $18.00,” Jindal writes of recent trending. “However, the bulls failed to test the $20.00 level. The recent high was formed near $18.37 and the price recently corrected lower. There was a break below the $16.50 support level, but the bulls were active near the $15.00 and $14.80 support levels (a multi-touch zone).”
Polkadot’s MACD, Jindal writes, is gathering its own momentum in the bullish zone.
A few days ago, Jordon Finniseth at Cointelgraph was explaining how Polkastarter, a “cross-chain token pool and auction protocol” of the DOT ecosystem, has been making changes, citing “the strong rally seen from Polkadot, strategic partnerships and exchange listings and an expanding list of token launches via auctions,” as value drivers.
“Prior to Jan. 14 POLS was only available on Uniswap and Poloniex,” Finniseth continues, proviing ballast for the argument on exchange buy-in. “At the time its liquidity was limited and high ETH gas fees also complicated matters for those thinking about trading the token. After the Huobi exchange announced plans to list POLS on Jan. 14, its trading volume increased from an average of $2 million to $22 million overnight. Now the POLS community is working on being listed at OKEx and a recent tweet from the project informed supporters that the project only needs 2,000 more votes to qualify.”
With the altcoin season perhaps upon us, DOT may have further to fly. Keep an eye out.