Polkadot [DOT] was undoubtedly the star of today’s market. By bagging the most daily gains, DOT was at the top of its game as the network gears up for the forthcoming parachain auction.
The crypto-verse has been home to numerous coins. The market has witnessed the arrival and departure of several assets. While some of these have made an impact in the market, a lot of them turned out to be scammy projects. Nevertheless, with regulations in place, the crypto-verse has emerged as a safe space for investors. Despite being fairly new, Polkadot [DOT] certainly caught the attention of the entire market after it made its way onto the top 10.
The entry of new coins did not disrupt Polakdot [DOT] ‘s stay in the top 10. The altcoin’s market cap was at $42.5 billion further allowing the asset a spot as the eighth-largest cryptocurrency.
Persisting the bullish notion, DOT went on bag gains worth 7.75% over the last 24-hours. At the time of writing, DOT was trading for $43.11. However, earlier today, the altcoin managed to go as high as $44.68. This further led to speculations that the asset was heading towards its all-time high of $49.69.
The Polkadot network certainly has eyes gazing all over it following the upcoming parachain auction. Recently, the network revealed that the auction was scheduled to start on 11 November 2021.
Polkadot [DOT] one-day price chart on Binance
The one-day price chart of DOT revealed a significant bullish notion. While in the short-term the asset could endure some heckles, the long-term chart was rather confident that DOT would be hitting its all-time high sooner or later. The MACD line had pushed past the signal line and formed a bullish crossover. This was further backed by another bullish crossover by the Klinger Oscillator.
The Relative Strength Index [RSI] indicator noted that DOT was being excessively purchased. The RSI marker was over the 70 median which suggested that the asset was in the overbought zone.