{"id":814,"date":"2021-04-06T22:10:00","date_gmt":"2021-04-07T02:10:00","guid":{"rendered":"https:\/\/www.hodlin.com\/blog\/?p=814"},"modified":"2021-04-11T23:37:07","modified_gmt":"2021-04-12T03:37:07","slug":"polkadot-price-adds-35-dot-usd-bulls-aim-at-65","status":"publish","type":"post","link":"https:\/\/www.hodlin.com\/blog\/polkadot-price-adds-35-dot-usd-bulls-aim-at-65","title":{"rendered":"Polkadot Price adds 35%, DOT\/USD Bulls Aim at $65"},"content":{"rendered":"\n
\"Polkadot
Polkadot Price Gain Looking Bullish<\/figcaption><\/figure>\n\n\n\n

The Polkadot price is defying gravity, starting Q2 2021 strongly by breaking above $40 to post a new all-time high above $45 for an over 45X performance in the past six months alone.<\/p>\n\n\n\n

Admittedly, and as per analysts’ projections, Polkadot is just getting started. Even at mega valuations, on-chain data and the wave of partnerships in the sweeping tide of interoperability may significantly boost the DOT price in the short-to-medium term.<\/p>\n\n\n\n

At spot rates, the DOT price is up 35 percent versus the greenback<\/a>, gaining against ETH<\/a> that’s also posted a new all-time high above $2.1k over the weekend.<\/p>\n\n\n\n

Buoying the DOT\/USD price is a spike in participation that quickly reversed attempts of lower lows of Apr 3. Notably, DOT’s trading volumes on the last day are within average, dropping 34 percent over the weekend, leaving price action fragile.<\/p>\n\n\n\n

Polkadot Price Overview<\/h2>\n\n\n\n

The path of least resistance for DOT is northwards. DOT bulls broke above the $40 level to register a new all-time high in a bullish breakout pattern with equally high trading volumes.<\/p>\n\n\n\n

Participation might be low\u2014considering the holidays, but bulls are unfazed due to the project’s value proposition. Encouragingly, DOT bull bars are beginning to band along the upper BB, suggesting demand in lower timeframes and building momentum for new all-time highs.<\/p>\n\n\n\n

Accordingly, the DOT\/USD price upside may continue going forward, further pumping determined bulls and Polkadot’s market capitalization.<\/p>\n\n\n\n

The $40 will be the support level and a region for loading DOT in the immediate term. As DOT\/USD charts new territory, bulls could aim at $65\u2014the 1.618 Fibonacci extension level of the Q1 2021 trade range.<\/p>\n\n\n\n

There is no discounting the possibility of the Polkadot price printing above $65. It is especially so if the platform remains attractive to new partners and developers, especially in DeFi and NFTs\u2014two of the most active sub-sectors in crypto.<\/p>\n\n\n\n

Polkadot Market Movers<\/h2>\n\n\n\n

Polkadot is an interoperable platform whose substrate can help projects link to other blockchains, including Ethereum.<\/p>\n\n\n\n

The project continues to gain traction, attracting developers keen on building DeFi dApps;<\/p>\n\n\n\n

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@AcalaNetwork<\/a> received a grant from @compoundgrants<\/a> for integration Compound with #Polkadot<\/a> chain, which will include building a bridge to Polkadot, adding support for $DOT<\/a> and $LDOT<\/a> as collateral, and make $CASH<\/a> available on Polkadot.https:\/\/t.co\/Btunhobp8v<\/a><\/p>— Polkadot News (@polkadotnews) April 4, 2021<\/a><\/blockquote>