Polkadot price increased by 1.23% over the past 24 hours.
|24-hr||7-Day||30-Day||1-Year||Mkt Cap.||24-hr Vol.|
|1.23%||-4.82%||-1.53%||-42.19%||6.31 bn||0.07 bn|
Polkadot (DOTUSDT) price over 7 days dropped -4.82% to 5.02 for the week ending 2023-08-06. For the record, DOTUSDT is -90.90% below all-time high of 54.98.
Over the last 30 days, DOT is down by -1.53% while 12-month period is down by -42.19%.
For the week, our technical outlook looks uncertain as Polkadot is not performing well over the last 7 days.
What can we expect from Polkadot today?
At time of writing, however, Polkadot has increased by 1.23% over the past 24 hours. Our daily analysis is that the price action looks mixed.
Looking ahead for the day, immediate upside resistance level at 5.05 (R1) with break above could target 5.09 (R2), while on the downside we are looking at 4.96 (S1) or daily low of 4.93 as immediate support levels. Break below these levels could weaken the current bullish momentum and may target towards 4.90 (S2).
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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