Polkadot stuck on key support, pointing to 170% increase

The price of Polkadot remained above the level of make-or interrupt this week as a bitcoin and most cryptocurrency.

Polkadot (Dot) He fell to a low $ 4, something more than critical support levels to 3.60 dollars, where he failed to fall below 2022. Years.

The token maintained stable above the level of support from two main reasons. First, Griscale and 21Shares have submitted for a Spot Spot DET Trade fundwhich hope to be popular among investors Wall Street.

Spot Bitcoin (Btc) and Etherum (El) ETFS went pretty well among investors because they attracted a combined $ 40 billion property.

Second, the price of the price remained stable because the network prepares to start a polkadot 2.0 that will introduce new changes. Install functions such as revolving Coritime, elastic scaling and asynchronological substrate.

The goal of upgrading is to reduce the average time for just 6 seconds and enable dynamic scaling, which will make it one of the fastest layers-1 network in the crypto industry.

Polkadot 2.0 will also reduce barriers to developers who aim to build on a chain. This will do this by introducing an Etherum Virtual Machine or EVM, which will allow developers to build Dapps without passing through a set and a long-lasting paoca auction process.

Polkadot 2.0 will also have a jam, which will improve its possibilities, transform it from the interoperable blockade into a complete package to build all types of web2 applications.

Polkadot price analysis

The weekly chart shows that Dot price avoided the fall below support to $ 3.60, even while most Altcoins collapsed.

This price is crucial since DOT formed a quadruple bottom of 2022. As a double bottom, a four-time high sign of technical analysis is a four-time.

The price of the price also formed a small sample of falling wedges, which occurs when there are two falls and converting trends. These two lines are now approaching the levels of the estuary, pointing to a possible jump.

The first goal for this price of the price is $ 11.72, the highest swing in November last year and 170% above current level. The second goal will be $ 23.80, a retrach level (38.2%.