Polkadot Finds The "Sweet Spot"

Mar 8

On Feb. 25th, DOTUSD printed an impressive Bullish Candle creating a new High @ $1.752. This rally accompanied by strong Volume suggests that price may be looking to continue higher!

Since the High on Feb. 25th, price has been falling but after closer examination, the descent in price may have a particular area its looking for Support from.

Using the Fibonacci Retracement tool from the Low @ $1.103 to the new High @ $1.752, we can see that price has found its way to the Previous Highs where the 50% Retracement level of $1.428 sits and price is currently at!

Currently DOTUSD is trading @ $1.437 of publishing and if price can continue to find Support, we can expect it will only be up from here!

The next area price will be looking to go will be the overhead Resistance Zone around $2.30 - $2.34.

Friday, March 6th, 21Shares launched the first Polkadot ETF
-tradingview.com/news/the_block:414d91c26094b:0-first-spot-polkadot-etf-launches-in-us-issued-by-21shares/

March 12th there's a major "economic upgrade" which includes:
$2.1 Billion DOT supply cap
53.6% reduction in emissions
Reduction of Unbonding Period from 28 days to 24-48 hours
New Governance and staking mechanisms

-tradingview.com/news/coindar:f213a26e1094b:0-polkadot-to-begin-economic-upgrade-rollout-on-march-12/

Mar 10

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