Polkadot (DOT) The price remained below the $53.88 resistance level for five days. If the DOT can make a clear close above this price, the price may make new searches again.
Polkadot (DOT) price November 1showed buying pressure in . However, this price pursuit remained below significant resistance and led to a consolidation process. If the DOT can clear the $53.88 resistance, new highs could be on the way.
Polkadot will open a new avenue for parachains and mass lending on Nov.Polkadot Runtime” accepted the offer and upgraded to v9122. With this app, it will allow dOT developers to get lost in parachains, which will pave the way for mass loan seeking.
Developers will be able to request credits from DOT holders via auction. However, this project warns users not to deposit their funds directly, but to go through a different channel.
“Do not transfer any money directly to a loan or to a specific account associated with a team. To save the on-chain contribution using the crowdcredit runtime module, click “ContributeUse the ” action. Once the fund is dissolved, the full value will be returned to your account by the runtime after the parachain lease expires or ends without earning credits.”
So far, 12 projects have completed the crowdfunding process and nine have not yet received their funding.
Unlike other methods, with this project, developers will have the chance to increase their capital by signing up for parachains. November 7 was the fourth anniversary of the Polkadot network.
Polkadot Price Ready for New Highs
Polkadot price averaged after catching a large increase in buying pressure on Nov. 30% rose. However, this uptrend failed to continue and it was stuck at $53.88, leading to consolidation below the 100% Fibonacci extension level. Therefore, the DOT needs to turn this hurdle into a support barrier to confirm a bullish start.
If DOT can achieve this, it can climb 30% from its current position and $71.43It may also approach a new resistance barrier. If this uptrend turns into a “bullish trend”, the uptrend could be prolonged and the DOT’s 100 dollarsIt can cause them to see the psychological level as a target. In this case DOT, 261.8% Fibonacci extension levelwhat might it mean.
However, if the DOT breaks below the support base of $48.33 during price seeking, it can be assumed that the selling pressure has increased significantly and sellers have started selling to take their profits. A one-day close below this support would invalidate the bullish argument and potentially drop the DOT price into the demand zone between $35.48 and $38.76, resulting in a 19% loss.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.