Polkadot is among the top winners in the crypto market this week. The token managed to hit new highs after falling sharply during the month. The DOT uptrend is attributed to both market support and buy support.
Polkadot is trading at $ 12.28 at the time of writing, up 2.9% in 24 hours.
DOT price analysis
DOT is currently heading for a sharp upward zone leading to a breakout above $ 13. This breakout will have a positive impact on DOT because if bulls continue to manifest, DOT could head towards $ 16 and beyond.
Currently, market support for Polkadot is good; therefore a rally in the direction of an uptrend might be impossible. But even this market could fail at any time and lead to a re-entry of the bears.
In the event of a downtrend, DOT will try to test $ 10 again, which is a critical zone for Polkadot. Failure to rebound above this level could wipe out all of the bullish gains DOT has made this year.
Polkadot is rebounding to higher levels due to the recent revival of other major cryptocurrencies like Bitcoin and Ethereum. BTC managed to break recent lows of below $ 30,000 as it rebounded to $ 32,000, dragging the entire market with it. The overall market has reportedly grown significantly after the B-Word conference.
Where can you buy polkadot?
To buy Polkadot, you can create a cryptocurrency account on the following platforms:
One of the leading platforms that you can buy polkadot on is eToro. eToro is one of the leading exchanges and supports a wide range of cryptocurrencies and trading pairs.
The other cryptocurrency exchange that Polkadot supports is Kraken. Kraken is a reputable exchange as it also has a wide range of unique features that are also suitable for new crypto traders.
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