Polkadot [DOT] was the only asset painted in green while all the other coins were submerged in red. This time the bears didn’t spare Solana [SOL]. With a whopping 8% daily drop, the altcoin was down to $187. Bitcoin [BTC] was slowly trying to make it past $45K. Ethereum [ETH] was, however, still residing with the bear.
The entire week posed beneficial to many coins. This list included Solana [SOL], Algorand [ALGO], and Filecoin [FIL]. While few of these coins retained this bullish momentum, others mirrored the ongoing slump in the market.
Polkadot [DOT] was the star of today’s market. The altcoin was still garnering gains of about 9% over the last 24-hours. At the time of writing, DOT had hit $31.43. The asset seemed to have endured a slight pullback from the bears as it had earlier hit a high of $35.67.
Despite being fairly new to the crypto-verse, the altcoin managed to witness impeccable growth. DOT surged in terms of market cap and even found a place in the top ten. But currently, the altcoin stands as the ninth largest cryptocurrency with a market cap of $31 billion. Polkadot [DOT] wasn’t too far off from being able to overtake Dogecoin [DOGE].
Polkadot [DOT] one-hour price chart on Binance
The one-hour price chart of DOT on Binance revealed that there were still signs of the bull. The Parabolic SAR indicator remained below the candlesticks further acting as a barricade against any potential downward breakout. This was accompanied by the Chaikin Money Flow [CMF] indicator whose marker stayed in the bullish arena over the zero median. These signs clearly indicated that the bulls were in the DOT market and would even stay there for a while.
Furthermore, the Relative Strength Index [RSI] indicator noted that DOT was headed towards the sellers’ zone. The buying activity was seen reducing in the DOT market.
