Polkadot’s crypto presence DOT, 21shares’ Spot Polkadot ETF application after an increase of approximately 6 %said. The price increased to 6.5 dollars in a short time, while the daily transaction volume increased by more than 338 million dollars and increased by 75 %. Development is considered to have created an important momentum in the market.
Technical indicator status
In recent months, DOT’s technical graph is the emergence of positive formations. After the falling triangular model formed in August and November 2023 period, price leap was observed. Fibonacci levels also point to the potential return on the market; The level of 0.618 is $ 6,772 and the level of 0.786 is 5.434 dollars.
21Shares presented a Spot Polkadot ETF file to the US Securities and Stock Exchange Commission (SEC). The recommended ETF is determined as a follower of the basic asset when planning to be traded on the CBOE BZX Stock Exchange. The appointment of Coinbase as a guarantee is aimed at providing active security. Similarly, ETF applications have been activated for other digital assets.
Market expectations
Analysts, DOT price, the critical resistance level of $ 7,545, exceeding the new rise acceleration may be a harbinger. Based on technical analysis data, this break is expected to carry the price to close to $ 14. Some experts say DOT may increase by 650 %as a result of multiple breaks.
Market analyst Javon Marx expressed his positive expectations for the price movements of Polkadot.
Javon Marks: “$ DOT is located for a significant price increase thanks to multiple breaks. The target points to the potential to reach $ 53.385. ”
Current data show that Polkadot is experiencing a price increase of 5.7 %with a market value of $ 9.92 billion. Process volume, open position and liquidation figures have also observed significant increases. Investors are trying to determine their strategies by closely following these data.
DOT’s technical formations and price movements supported by ETF file seem to have caused an increase in market sensitivity. Nevertheless, if the price tests the critical resistance level and enters a stable rise trend, it is likely to attract the attention of investors.
In the light of market data, technical analysis indicators and regulatory applications, investors evaluate opportunities with risk. These developments increase the importance of detailed analysis and market tracking while maintaining the uncertainties of Polkadot’s future price movements.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
