{"id":30293,"date":"2022-09-27T10:46:23","date_gmt":"2022-09-27T10:46:23","guid":{"rendered":"http:\/\/egrowonline.com\/?p=30293"},"modified":"2022-09-27T10:46:23","modified_gmt":"2022-09-27T10:46:23","slug":"assessing-the-odds-of-polkadots-dot-rally-this-week","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=30293","title":{"rendered":"Assessing the odds of Polkadot’s [DOT] rally this week"},"content":{"rendered":"


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Polkadot<\/span><\/a> [DOT] did not have the best of its time last week as it registered only 2.5% seven-day gains. However, the growth was still promising as the entire crypto market struggled to go green. <\/span><\/p>\n

Several positive developments have happened in the DOT ecosystem lately, which might have fueled this increase. One of which is the launch of Tether on the Polkadot ecosystem. <\/span><\/p>\n

This development grabbed the attention of many, which made the alt the top-performing coin on 24 September in terms of social activity.\u00a0<\/span><\/p>\n

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⚡️TOP #Polkadot<\/a> #DOT<\/a> Ecosystem Coins by Social Activity
24 September 2022$DOT<\/a> $MATH<\/a> $CELR<\/a> $KSM<\/a> $MOVR<\/a> $FIS<\/a> $GLMR<\/a> $OCEAN<\/a> $ANKR<\/a> $DIA<\/a> pic.twitter.com\/IbzLW8ImN5<\/a><\/p>\n

\u2014 🇺🇦 CryptoDep #StandWithUkraine 🇺🇦 (@Crypto_Dep) September 24, 2022<\/a><\/p>\n<\/blockquote>\n

Though at the time of writing, DOT\u2019s performance was negative, several on-chain metrics suggested that better days are ahead of us. At press time, DOT was trading at $6.34 with a market capitalization of $7,100,453,221.<\/span><\/p>\n

Better days to come soon?<\/h3>\n

Polkadot\u2019s weekly digest report revealed several positive developments in the community, which have the potential to fuel <\/span>DOT<\/span><\/a>\u2019s next bull rally. <\/span><\/p>\n

The most notable was the introduction of the Tether stablecoin to the Polkadot network. Apart from DOT, Tether is also live on other blockchains, including Avalanche, Kusama, Ethereum, Solana, Algorand, EOS.<\/span><\/p>\n

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💠@Tether_to<\/a> launches on @Polkadot<\/a>;
💠Resuming @AcalaNetwork<\/a>‘s operations;
💠Turing Network by @oak_network<\/a> removes SUDO;
💠 Spacewalk by @pendulum_chain<\/a> is coming;
💠@wormholecrypto<\/a> launches on @MoonbeamNetwork<\/a>;
💠Realignment of Mosaic by @ComposableFin<\/a>;https:\/\/t.co\/d5LnUNVqDv<\/a><\/p>\n

\u2014 Polkadot News ☮️ (@polkadotnews) September 25, 2022<\/a><\/p>\n<\/blockquote>\n

All these positive developments give investors hope for brighter days ahead. Interestingly, Crypto Santa, a popular crypto analyst on Twitter, pointed out that DOT was trading just above its historically significant support at $6. <\/span><\/p>\n

In his analysis, he pointed out that if DOT breaks its support, investors\u2019 hopes might be shattered as it might decrease its price further.\u00a0<\/span><\/p>\n

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Request #1: $DOT<\/a><\/p>\n

Trading just above a historically significant support level, if #DOT<\/a> loses the $6 level, it’ll likely experience a massive sell-off! 👀‼️<\/p>\n

I do remain bullish on #Polkadot<\/a> fundamentals, however we may see some blood in the short term\u2026📉😅$BTC<\/a> #BTC<\/a> #Altcoins<\/a> pic.twitter.com\/BhdOEIuYIA<\/a><\/p>\n

\u2014 Crypto Santa (@Blockchainsanta) September 25, 2022<\/a><\/p>\n<\/blockquote>\n

A look into the metrics<\/h3>\n

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However, a look at DOT\u2019s metrics revealed a different story, as most of them were supporting a price surge in the coming days. <\/span><\/p>\n

For instance, DOT\u2019s development activity increased considerably over the last month before declining slightly, which is, by and large, a positive indicator.<\/span>\u00a0<\/span><\/p>\n

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Source: Santiment<\/p>\n<\/div>\n

DOT\u2019s social volume has also gone up lately, indicating increased interest from investors in the token. Not only that, but DOT\u2019s NFT space also registered some interesting movements.<\/span><\/p>\n

\"\"\"\"<\/a><\/p>\n

Source: Santiment<\/p>\n<\/div>\n

CryptoQuant\u2019s data revealed another major bullish signal. <\/span>\u00a0DOT<\/span><\/a>\u2018s<\/span>, Relative Strength Index (RSI), and stochastic were in an oversold position. <\/span><\/p>\n

This development indicated that DOT\u2019s next northbound breakout might happen sooner than expected. Considering all the positive developments with on-chain metrics, it is most likely that DOT will register an uptick in the days to come.\u00a0<\/span><\/p>\n

\"\"\"\"<\/a><\/p>\n

Source: CryptoQuant<\/p>\n<\/div><\/div>\n


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Polkadot [DOT] did not have the best of its time last week as it registered only 2.5% seven-day gains. However, the growth was still promising as the entire crypto market struggled to go green. Several positive developments have happened in the DOT ecosystem lately, which might have fueled this increase. One of which is the […]<\/p>\n","protected":false},"author":1,"featured_media":30294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[2074,566,3532,5020,213,339],"class_list":["post-30293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-assessing","tag-dot","tag-odds","tag-polkadots","tag-rally","tag-week"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/09\/nagy-arnold-cPIP9PcaqkA-unsplash-1-1000x600.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/30293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30293"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/30293\/revisions"}],"predecessor-version":[{"id":30295,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/30293\/revisions\/30295"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/30294"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30293"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}