Despite the crash in Bitcoin and other cryptocurrencies, Polkadot (DOT) managed to remain above its critical support level at $3.60. This was attributed to two main factors: the filing of a spot DOT exchange-traded fund by Grayscale and 21Shares, which is expected to attract Wall Street investors, and the upcoming launch of Polkadot 2.0. Polkadot 2.0 aims to introduce new features such as agile coretime, elastic scaling, and asynchronous backing, with the goal of making it one of the fastest layer-1 networks in the crypto industry. Additionally, it will lower barriers for developers by introducing an Ethereum Virtual Machine (EVM) and JAM to enhance its capabilities. The weekly chart shows bullish signs for Polkadot, with the price avoiding dropping below support and forming a quadruple bottom, as well as a falling wedge pattern indicating a potential rebound. The first target for price action is $11.72, followed by $23.80.



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