Polkadot [DOT] just lately printed its weekly digest the place the blockchain talked about all the main developments that befell on the blockchain. One of many main updates was the mixing of Polkadot with the Qredo Community.
With this new integration, customers of that blockchain will be capable to retailer property effectively on Qredo Community and – from their Qredo Pockets – seamlessly swap property throughout different supported chains utilizing atomic swaps.
@Bitgreen_ wins Polkadot’s twenty ninth public sale and @DAO_IPCI has gained the fifty fifth Kusama public sale;
— Polkadot Information
(@polkadotnews) October 16, 2022
Nonetheless this improvement didn’t mirror on DOT’s chart as in keeping with CoinMarketCap, its worth went down by over 3% within the final seven days. At press time, DOT was buying and selling at $6.18 with a market capitalization of over $6.9 billion. Nonetheless, the worst is but to return! ____________________________________________________________________________________
Right here’s AMBCrypto’s Worth Prediction for Polkadot [DOT] for 2023-24
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Buyers, hold your eye on the ‘DOT’
DOT’s on-chain metrics indicated that traders may need really feel the warmth of DOT’s worth motion. This was as a result of issues didn’t look fairly promising for the token. As an example, DOT’s improvement exercise went down final week, which was a pink flag for the blockchain. Moreover, DOT‘s quantity additionally adopted an identical path and decreased over the previous few days.
Supply: Santiment
Nonetheless, DOT’s NFT area witnessed some aid because it registered a hike within the whole variety of NFT commerce counts final week. However, this quantity too witnessed a decline together with the whole NFT commerce volumes in USD. DOT’s social quantity, however, witnessed a spike to remain.
Supply: Santiment
Are the bears profitable?
A take a look at DOT’s every day chart revealed that the bears had an edge available in the market. This was as a result of the 20-day Exponential Transferring Common (EMA0 was resting means beneath the 55 day EMA, which was a unfavourable sign.
Furthermore, DOT’s Relative Power Index (RSI) additionally registered a downtick and was heading in the direction of the oversold zone, yet one more bearish sign which will prohibit DOT’s worth uptick within the quick time period.
Nonetheless, the Transferring Common Convergence Divergence (MACD) registered a bullish crossover currently. Curiously, DOT’s Chaikin Cash Movement (CMF) additionally went up just lately, giving hope to traders for higher days to return.
Supply: TradingView
