Ideas clave:
- DOT has bounced from the key support, with an objective of $ 10 after the rupture of the wedge.
- An investment of 100 million dollars, zero inflation and depin growth boost the rise.
- DOT stock capitalization increases by 400 million dollars as the upward feeling grows
The polkadot price (DOT) has gained traction after the development of a double -wedge pattern in the technical graph. This training indicated a renewed impulse in its price movement.
Recently, DOT has bounced from a key support level of $ 3.72, where analysts and operators were looking for a break. If this pattern continues, could promote Polkadot’s price towards a price objective of $ 10.
The descending double wedge pattern indicates a technical configuration
The last graphic showed two descending wedge patterns. Signs of a possible change of upward trend are often considered. In previous cases, the price rose when DOT reached the lower part of these patterns, which caused a rise.
These points are shown with green arrows in the graph. The current price of $ 3.72 is considered a key support level where the Polkadot price could begin to form a higher minimum.
The operators have observed that the trend is close to changing to Alcista. If confirmed, this would reinforce the technical support to continue the upward movement.
If the DOT file exceeds the higher trend line of the wedge, it is likely to rise significantly. Historical performance suggests the possibility of rising up to $ 10.
That chart of the types of financing has also changed. Financing rates are now closer to being neutral or slightly positive, showing less negative pressure. This means that short positions have decreased. This may allow long positions to reinforce even more.
Polkadot’s stock market capitalization grew more than 400 million dollars in one day, increasing its demand. This was due to the latest events and the recovery of prices. Polkadot is about to enter the top 15 of Altcoins by market capitalization as interest grows and new use cases arise.
The relationship between the type of financing and the price reflects market change
The graph that analyzes the financing rate weighted by the open interest (OI) of the DOT over time, together with its price, provides information on the negotiation guidelines. This correlation highlighted key behaviors necessary to make negotiation decisions with knowledge knowledge.
The green and red bars indicate the financing rates, being the positive green and the negative red. Green bars mean that long operators pay the shorts, while red bars show otherwise, usually when the short interest increases.
The financing rate has often fallen into red numbers in recent months, precisely when prices were going down. Normally, this is a bearish signal. Although financing remained negative in March and early April, the price of Polkadot has recently stabilized and has begun to recover.
When the price goes up while financing is still negative or neutral, it can indicate a contrary upward configuration. Operators interpret it as an early indication of a possible change in trend. This is likely if the DOT price remains above the range of 3.50-3.80 $ and the financing is positive again.
Fundamental evolution supports prices recovery
The price and narrative of the Polkadot project have received a lot of support in the latest events. Harbor announced an investment of 100 million dollars in the Polkadot ecosystem, the first sign of institutional interest.
In addition, the tokens give soon they will go to a zero inflation model, which will result in a lower offer over time. Depin technology is also being adopted through Polkadot.
The PEAQ network, developed in Polkadot, is promoting significant growth worldwide. This progress is due to the growing demand for decentralized infrastructure.
The Polkadot network is also ascending in the web 3 games space. Mythical Games leads the development efforts of this type of projects and is helping to build a new game ecosystem.
The network will soon see many releases, such as Jam, Testnet and Mainnet. These next milestones will add more utility and functionality to the network.
In the lunar ray chain, the team is continuously progressing in cross -chain capabilities for communication between different blockchain platforms. At the same time, Gigadot helps to promote opportunities in the Polkadot ecosystem.
Large brands have collaborated with Polkadot, reinforcing their growth strategy. These associations reinforce their presence both in cryptocurrency markets and in the main ones.
However, derivative markets data indicate a growing level of operators participation in Polkadot contracts.
The total open interest in all bags exceeded 185 million dollars, and perpetual contracts meant more than 183 million. The open interest to 24 hours has grown more than 3.39%, while futures contracts alone increased more than 10%.
Discharge of responsibility
In this article, the points of view and opinions expressed by the author, or by the appointed persons, only have informative purposes, and do not establish investment, financial or other type advice. Operating or investing in cryptocurrency assets entails a risk of financial loss.
Olivia Stephanie is a FinTech enthusiast with a keen understanding of financial markets. Her passion for economics and finance has led her to explore emerging blockchain technology and cryptocurrency markets.
