Investors in Bitcoin (BTC) found the bottom? not found? While remaining in the dilemma, the atmosphere of fear created by FTX keeps the risk appetite low.
Meanwhile, although risk appetite remains low, we see people shifting to more decentralized areas rather than exiting crypto.
In this context Polkadot (DOT) and vomiting (KSM) project created to track the progress of ecosystems Dot Insightsshared important data about DOT active accounts.
In the past 2 weeks, data from @subscan_io showed that the number of daily new accounts on @Polkadot rose nearly 10 times, while active accounts increased 4 times🤩
clear in #web3decentralization matters. pic.twitter.com/do08So0qCS
— dotinsights (@dotinsights_xyz) November 14, 2022
Despite a general bearish mood in crypto, according to data shared by Dot Insights polkadot There was an increase in the number of new accounts and active user accounts per day.
It was stated that in the last two weeks, the data showed that the number of new accounts per day on Polkadot increased by about 10 times and active accounts increased by 4 times.
According to the data, the number of active user accounts on Polkadot increased by more than 300% from 1,100 to 4,516.
Experts said that these increases can be attributed to some extent to the liquidity outflow from centralized exchanges.
When we look at the DOT technically, we see that the price has returned to the levels where it started the bull season in 2020. In this regard, the price sits on an important support.
We see that we are moving within a descending channel in the short term.
At this point, $5.52 is our critical support level. In the event that this is broken or there is a pullback in Bitcoin, we can experience a pullback to the $4.20 levels.
Since the price is in an important support zone, it can be followed with a close stop.
Unless there is a new bearish wave in Bitcoin, $7.15, $8.05, $9.65 and $12 levels will be our sequential resistances.
*Not Investment Advice.
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