Polkadot price decreased by -0.88% over the past 24 hours.
|24-hr||7-Day||30-Day||1-Year||Mkt Cap.||24-hr Vol.|
|-0.88%||-2.42%||15.09%||-68.01%||7.56 bn||0.13 bn|
Polkadot (DOTUSDT) price over 7 days dropped -2.42% to 6.17 for the week ending 2023-04-09. For the record, DOTUSDT is -88.74% below all-time high of 54.98.
Over the last 30 days, DOT is up by 15.09% while 12-month period is down by -68.01%.
For the week, our technical outlook suggests further downside as Polkadot is not performing well over the last 7 days.
What can we expect from Polkadot today?
At time of writing, Polkadot has decreased by -0.88% over the past 24 hours. Our daily analysis is that there could be selling pressure.
Looking ahead for the day, immediate support level is at 6.09 (S1) with break below could see further selling pressure towards 6.02 (S2). As the current momentum is stalling, we prefer to look at firm break of the recent daily high of 6.24 as a possible indicator of buying interest. Break above could target 6.32. Rejection from the resistance level could suggest price consolidation.
Key levels to watch out:
Polkadot is a platform that allows diverse blockchains to transfer messages, including value, in a trust-free fashion; sharing their unique features while pooling their security. In brief, Polkadot is a scalable heterogeneous multi-chain technology.Polkadot is heterogeneous because it is entirely flexible and makes no assumption about the nature or structure of the chains in the network. Even non-blockchain systems or data structures can become parachains if they fulfill a set of criteria.Polkadot may be considered equivalent to a set of independent chains (e.g. a set containing Ethereum, Ethereum Classic, Namecoin and Bitcoin) except with important additions: pooled security and trust-free interchain transactability.Many of the native parachains of Polkadot will be written using a Polkadot Runtime Environment SDK (e.g. Parity Technologies’ Substrate).
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