- Polkadot breaks out its resistance level.
- DOT is an open-source sharding multichain protocol.
- The DOT price will soon hit ATH, if the bullish trend continues.
Recently, Polkadot (DOT) has broken out from the $29 resistance level with considerable volume. According to CoinMarketCap, the DOT price is trading at $33.06 with a 24-hour trading volume of $2,427,064,312, at the press time.
From the above chart, it is observed that the following are the resistance and support level of DOT.
- Resistance Level 1 – $50.48
- Resistance Level 2 – $74.33
- Support Level 1 – $26.63
- Support Level 2 – $10.56
The chart explains the bullish performance of DOT. If the bullish trend continues, the price of DOT will reach ATH of $49.69 by the end of September. Added to this, the trend will break out and reach the resistance level at $74.33. On the contrary, if the trend reversed then DOT might fall to $10.56 presenting a bearish signal.
Polkadot is an open-source sharding multichain protocol which facilitates the cross-chain transfer of any information or asset types, not just token, therefore making a wide range of blockchains interoperable with one another.
Moreover, the interoperability seeks to enhance a completely decentralized and private web controlled by its users. The platform will reduce the development of new applications, institutions, and services.
In addition, the Polkadot protocol joins public and private chains, permissionless networks, oracles, and future tech which enables these independent blockchains to share data trustlessly, and transactions via the Polkadot relay chain. More so, the Polkadot’s native token DOT serves three clear uses offering network governance, and operation.