Polkadot isn't like the other coins. It doesn't tend to follow the market, and when it does, it is much less subject to influence.
Most of the reason is due to its primary use. Polkadot is "a software that seeks to incentivize a global network of computers to operate a blockchain on top of which users can launch and operate their own blockchains". Similar to ethereum, but in its own world too.
Polkadot, is being held from the spotlight, which subjects it to small changes. As a relatively new coin, we have much to learn about it.
My shortsighted conclusion is that Polkadot will steadily fluctuate between the 32-40 zone, accumulating positively, into a final breakout before the cycle ends.
Here are my reasons for Polkadot breaking out over the few months:
- The three touches/wicks on the support at 27.5 make it a very strong foundation at 32
- Bitcoin has plummeted to 39k from 65k, and Polkadot has remained within this zone
- Accumulation is off the charts, once volume picks up, Polkadot will reach all time highs.
Most of the reason is due to its primary use. Polkadot is "a software that seeks to incentivize a global network of computers to operate a blockchain on top of which users can launch and operate their own blockchains". Similar to ethereum, but in its own world too.
Polkadot, is being held from the spotlight, which subjects it to small changes. As a relatively new coin, we have much to learn about it.
My shortsighted conclusion is that Polkadot will steadily fluctuate between the 32-40 zone, accumulating positively, into a final breakout before the cycle ends.
Here are my reasons for Polkadot breaking out over the few months:
- The three touches/wicks on the support at 27.5 make it a very strong foundation at 32
- Bitcoin has plummeted to 39k from 65k, and Polkadot has remained within this zone
- Accumulation is off the charts, once volume picks up, Polkadot will reach all time highs.