Polkadot’s attempts to expand globally could help improve interest in DOT, but is it enough to spark a rally? Below, we take a technical look at DOT and explore an exciting new crypto project and why it could be a potential game-changer for the lending industry.
Polkadot’s Ecosystem
Polkadot was founded by Gavin Wood as a next-generation blockchain protocol, with the goal of connecting multiple blockchains into one network. Polkadot aims to solve the scalability problem faced by many blockchain projects by creating shared chains called “parachains” that are connected to the Polkadot ecosystem.
Polkadot Price Analysis
Polkadot’s price analysis shows a bearish trend with selling pressure directing DOT/USD below the resistance level at $5.70. At the time of writing, DOT/USD is trading at $5.48 after an upside breakout from the downward channel, indicating bullish momentum. The Relative Strength Index is hovering above 40 pointing up, indicating that the market has gained moment
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