DOT Price Rises Above the Odds Chasing ATH, Is It a Polkadot Season?

Author: Sohrab Khawas

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    Story Highlights
    • DOT price smashes a new ATH above $30 at $30.89 after a quick dip recovery and consolidating below the resistance at $30.2

    • The price appears to fly to new highs and may hit the levels close to $50 or even higher in the coming days

    • With big investors on Polkadot project, the platform is looked upon as an ‘Ethereum Killer’

    Polkadot Rolled Out Parachains

    Polkadot in a recent update rolled out a final piece of core functionality or parachains which is outlined in the Whitepaper on its official Website. As per the announcement, the functionality will be ready to use and activated through an on-chain governance after the completion of a period of testing and review. 

    The announcement also said that once the parachain in live the additional features and the upgrades will be determined by the community. 

    Initially, the testing of the parachains will be carried out on Kusama, and once the testing is successful, the on-chain governance voting will be activated on polkadot. The first parachains will be made available for public on polkadot further. 

    Analysts, Lark Davis also appreciated the amount of innovation happening on the DOT platform and also said that polkadot is a tough competitor for the Ethereum network. 

    DOT Price May Trend Sideways!

    The DOT price underwent a massive surge in the current month with gaining nearly 50% of the price, surging from around $15 to more than $30. With the magnificent rally, polkadot outperformed XRP and Cardano to secure the 4th position on the cryptocurrency ranking list.

    With the accelerated DOT price rally, it is assumed that the current phase might be the start of the Polkadot season. However, according to an analyst The Flash, the Dot price may trend within a narrow range for a couple of days. Moreover, the analysts also predicted that the price may break the upper resistance levels at the ATH and fly high above $35.

    At the time of writing, the DOT price is $30.59 with a notable jump of 14.65% in the last 24 hours. The RSI levels are trending within the normal range and hence a decent price movement can be expected. The resistance level however lies at the ATH which needs to be revisited to rally further. 

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