The bears were slyly trying to take over the crypto market. However, a few assets like Polkadot [DOT], Shiba Inu [SHIB] revealed that the bears had no place in their respective markets. While the entire market was painted in red, the aforementioned few assets were the only ones amassing gains.
The community hoped Bitcoin [BTC] would finally move on towards $60K. But the bear cut the asset’s journey at $54K itself. However, its market cap remained intact at $1 trillion. Terra [LUNA] and Avalanche [AVAX] noted major disruptions in their price. All the other altcoins were seen following suit.
Polkadot [DOT] was still smeared in green. Despite being relatively new to the market, DOT managed to steer towards the top. The altcoin, during the time of writing, was trading for $34.51 with a 2.43% surge over the last 24-hours. This price surge was certainly higher than that of all the other assets in the market. Additionally, the asset made gains up to 7.91% over the previous seven days.
With the overall market cap of the crypto-verse at $2.3 trillion, Polkadot was seen accounting for about $34.1 billion. This further gave the altcoin a spot as the eighth-largest cryptocurrency.
Polkadot [DOT] one-hour price chart on Binance
The short-term price chart of DOT on Binance revealed that the bulls were here to stay. The Bollinger Bands indicator was currently sitting at limited volatility, however, the bands were seen heading towards divergence. This could indicate that the fluctuations in price were going to increase. The Awesome Oscillator brought in good news by noting that price fluctuations were coming at the right time. The indicator rolled out green closing bars affirming the presence of the bull in the DOT market.
The Relative Strength Index [RSI] indicator noted major buying activity in the market. This was recognized by the RSI marker that resided over the 50 median.