Zerebro
Bitcoin
Aerodrome Finance
ZKsync
Pearl
Pudgy Penguins
Bitway
- The top 10 holders of the Polkdadot crypto hold 26.80% of the supply.
- DOT crypto’s trading volume has declined by 14% in the last 24 hours.
Polkadot, launched in 2020, is a “blockchain of blockchains,” enabling custom parachains to connect to its relay chain.
Founded by Gavin Wood, it allows secure, scalable blockchain interoperability. Its native token, DOT, is used for governance, staking, and securing parachain slots, fostering a robust decentralized ecosystem.
Polkadot crypto’s market cap has been trading flat over the last 24 hours at press time. It has resulted in a slight advance of 0.53% in the market cap.
Despite this, Polkdaot is the 14th largest cryptocurrency in the global crypto market, with a market cap dominance of 0.29%. The crypto’s price volatility is also medium at 4.5%.
Polkadot Crypto Derivatives Analysis
The derivatives trading volume of the Polkadot crypto has declined by 16.8% in the last 24 hours, which has resulted in a traded value of $290.04M.
The open interest in Polkadot crypto has witnessed an advance of 2.8%, and the long/short ratio of the crypto has been 0.9631 for the last 24 hours.
The long liquidation recorded for the crypto further is higher, resulting in $145.62K, and the short liquidation is worth $56.18K.
DOT Crypto Technical Analysis
The price of the DOT crypto has broken above the falling wedge pattern but is consolidating in a small range and is sustaining above the recent swing low.
Despite the breakout in the trading price of the crypto, the DOT price seems to be lacking momentum, as the price is not advancing to higher levels.
If the buyers further dominate the crypto, and its price breaks above the recent consolidation zone followed by a good surge in the trading volume, a strong bullish momentum might be seen in the future.
DOT/USD Chart by TradingView
The 50-day and the 200-day EMAs are trading in a golden crossover on the daily chart of the DOT crypto. The crypto’s price has also advanced above the following EMAs, showing a bullish bias.
The MACD is also strong on the daily chart as the MACD and the signal line are trading in a bullish cross and have sustained above the 50-level.
The RSI also trades above the 50-level and has broken above the 14-day SMA. It shows the possibility of a rise in the momentum of the crypto in the future.
Summary
Polkadot has broken above a falling wedge pattern and is consolidating above recent lows, showing potential for bullish momentum.
With the price trading above the 50-day and 200-day EMAs in a golden cross, strong MACD, and RSI indicators, DOT could see significant gains if buyer dominance and trading volume increase.
The DOT crypto price has support at the levels of $4.80 and $6.0, followed by the resistance levels of $9.0 and $11.50.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
