Polkadot looks to experience slight choppy trading on Friday morning after the steady surges that the altcoin saw over the previous sessions. At the moment, DOT leads with daily gains in the financial market. While writing this content, DOT/USD trades at $13.
Undoubtedly, the bullish outlook reflects the positive sentiment among crypto investors towards BTC moves. Keep in mind that the leading crypto, Bitcoin, trades above the vital level at $32,000. Also, the market volatility seems to increase as we head to the weekend. That shows investors’ revival at the moment. Such moves might ensure enough momentum to send DOT to the high zones in the short term.
Moreover, Polkadot might enjoy more support from its listing as a leverage token by the leading crypto exchange Bitrue. Most XRP holders utilize this platform, including DOT in its bullish and bearish modules might spark more interest in the crypto to send the prices higher.
Moreover, the Ethereum killer receives support from Capital2Market President Keith Bliss. Keith offers fintech solutions and sees Polkadot growing in the coming three years. Also, he stated that the bridges in the network make the platform more scalable, allowing developers to create their apps without Polkadot’s main blockchain. Also, they can use the bridging system to connect with other networks.
Levels to Watch
According to the DOT/USD’s 4-hr price chart, the pair has bearishness awaiting. Meanwhile, the MACD indicators suggest that the market might see increased buying activities in the upcoming sessions.
The coin’s price remains beneath the pivot level at $19. However, it manages to hold over the next support area at $10. With increased buying interest, DOT might strengthen and surge past the critical level at $20. That way, buyers will face resistance near $25.
For now, DOT indicates some stability. Some market players believe that it is the best time to take action. If you want to invest in this altcoin, you need to beware of the increased correlation between alternative coins and Bitcoin. For now, most assets will rely on BTC price actions to ensure movements in either direction. If you can play with risks, find a reliable platform and start your crypto activities with this digital currency.
Stay around for updates on the crypto market.
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