Polkadot: Will this “upgrade plan” help the transport ministry to rise in the short term

polka dot posted one tweet On their Twitter page they highlighted several proposals focused on major network improvements that will be implemented in the near future.

in their country official In the statement, they went into detail about additional features that network members can expect to see implemented in the coming days.

Some upcoming promotions

The network implements asynchronous backup in an attempt to reduce the block duration (from 12 seconds to six seconds) and improve the endpoint.

Parathreads, a pay-as-you-go parachute that facilitates blockchain creation and smart contract deployment, has also been proposed.

The group also proposed replacing the council and technical committees with the Polkadot Fellowship and subjecting all community decisions to referendums.

This action appears to be OK

A review of Santiment’s development metrics showed a very busy development period (a score of 86.14). The developers are clearly working hard and more features are likely to be released soon.

In addition to the scale being high, the line has also shown an upward trend, indicating that development activity has been on the rise and is likely to continue as such.

Source: feeling

DOT not like

A chart review showed that DOT’s stock price did not react favorably to the announcement of the new features. At the close of trading on October 6, the token was valued at $6.34, down from the opening price of $6.44.

During the same time frame, it traded as low as $6.25, down 1.55%. Well, the token was trading at a loss of around 1% at the time of writing.

According to the trend lines, the altcoin failed to push through the $6.85 resistance level. At first glance, $6.10 appears to be holding as a strong support level.

According to the chart, there has been little decisive upward or downward movement lately, and the movement has been largely sideways.

Source: TradingView

Broadly speaking, the DOT market is showing bearish momentum as measured by the Relative Strength Index (RSI) and Directional Movement Index (DMI).

The RSI line is found to be below the neutral line, while the DI lines, the positive and minus of which are found below the 20 DMI level. Despite this, the indications are that the downside trend was not very strong.

When these updates are released, Polkadot is sure to see an increase in its user base. Inevitably, this will have a beneficial effect on the DOT price movement, allowing DOT holders in the long run to make money.

However, in the medium term, any further appreciation of the currency will depend on a break of the current resistance.

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