Is Polkadot poised to launch into the next climb? These DOT metrics suggest…

  • Polkadot released its weekly report there CMF and MACD looked bullish
  • However, development activity showed a decline

January 2, Polkadot [DOT] Post a summary of the network’s prominent ads over the past few days. The most notable update included the integration of Astar Network with Coinhub, which will help Astar grow its user base.

In addition, Celer Network has integrated Celer IM, an inter-chain messaging framework, into the Astar Network. With Celer IM, Astar developers can send messages or call smart contract functions on other major Layer 1 chains such as Ethereum. [ETH] and BNB.

58.08 times high on the cards If DOT reaches the market cap of Bitcoin?

in a Articles on January 3Pendulum announced that it won the 35th parachain auction on Polkadot raising nearly 300,000 DOT valued at approximately $1.4 million from 51 contributors.

Polkadot bulls gain the advantage

At the time of publication, it was the Department of Transportation trade $4.51, with a market capitalization of over $5.2 billion.

Although the price of DOT has fallen in recent days, the tables may turn in its favor soon. Some market indicators supported the possibility of an upward trend in the near future.

The Moving Average Convergence Divergence (MACD) also revealed the advantage of buyers in the market. This was complemented by Chaikin Money Flow (CMF), which was on the rise. But the Money Flow Index (MFI) has fallen from the neutral mark, which can be alarming.

Source: TradingView

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What do the measurements indicate?

Like the market indicators, most of the metrics also looked positive for Polkadot, hinting at the possibility of higher prices in the coming days. PointThe trading volume recorded an increase on January 2, when its price also increased slightly, adding to the legitimacy of the increase.

Polkadot’s social dominance has increased recently as well. This reflects its popularity in the cryptocurrency community. to me feelingsThe Department of Transportation ranked it second in the list of blockchains with the most developed activity in 2022.

But things changed with the onset of 2023 PointDevelopment activity decreased.

Source: feeling

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