Polkadot [DOT] jumps onto the bullish bandwagon and heads towards $30

  • August 21, 2021

Painted in green, all the crypto assets were seen beaming in joy. Cardano [ADA], Polkadot [DOT], XRP, and several other assets were bagging double-digit gains. The crypto-verse hoped that this trend would persist.

Bitcoin [BTC] had found its way over $45K and was seen moving on to $50K. At the time of writing, the king coin was trading for $47,055 with a 6% surge over the last 24-hours. The market cap of the altcoin was at $885 billion accounting for most of the global crypto market cap which was at $2 trillion.

Polkadot [DOT] and Cardano [ADA] were garnering the most amount of profits. At press time, Polkadot [DOT] was trading for $27.56 with a whopping 15.55% surge over the last 24-hours. The altcoin was undoubtedly one of the most promising assets this year, despite its late entry into the crypto market. Throughout the week, the altcoin managed to bag gains up to 25%.

DOT endured a blip on its path in terms of market cap. The altcoin slipped down to the eighth position as its market cap sunk to $27 billion. At least, the DOT retained itself in the top ten.

Polkadot [DOT] one-hour price chart on Binance


The bulls were raging in the short-term price chart of DOT on Binance. DOT was bidding adieu to the bear as it welcomed the bull. The Parabolic SAR indicator was noted switching sides. A set of dotted lines were formed below the candlesticks, further giving the asset a much-needed push to the top. The Awesome Oscillator indicator followed suit by laying out green closing bars after a series of red bars. This indicated the presence of bulls in the DOT market.

Additionally, the MACD line was slowly trying to overtake the signal line to form a bullish crossover. However, it seemed to be taking longer than anticipated.

DOTUSD 2021 08 20 17 23 21

Furthermore, the Relative Strength Index indicator noted that the altcoin was recovering from being overbought.

Source: tronweekly.com

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