Polkadot has been among the best gainers in the crypto market this week. The token has managed to clinch new highs after a sharp decline over the month. The DOT uptrend is attributed to both market support and buying support.
Polkadot is trading at $12.28 at the time of writing after a 2.9% gain in 24 hours.
DOT Price Analysis
DOT is currently headed towards a sharp bullish zone, leading to a breakout past $13. This breakout will positively affect DOT because if bulls continue to manifest, DOT could be headed towards $16 and beyond.
Currently, market support is good for Polkadot; hence the rally towards an uptrend could be impossible. However, this market could also fail at any time, leading to the bears making a re-entrance.
In case of a downtrend, DOT will try to retest $10, which is a critical zone for Polkadot. Failure to recover past this level could erase all the bullish gains that DOT has made this year.
Polkadot is rebounding to higher levels because of the current revival of other key cryptocurrencies like Bitcoin and Ethereum. BTC has managed to move past the recent low of below $30K as it rebounded to $32K, dragging the whole market along with it. The entire market made significant gains reportedly after the B Word Conference.
Where to Buy Polkadot
To purchase Polkadot, you can create a cryptocurrency exchange account on the following platforms:
One of the leading platforms where you can buy Polkadot is eToro. eToro is one of the leading exchanges, and it supports a wide range of cryptocurrencies and trading pairs.
The other cryptocurrency exchange that supports polkadot is Kraken. Kraken is a reputable exchange, given that it also offers a broad range of unique features that are also friendly to new crypto traders.
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