DOT has once again reached $1 after a series of rebounds, and the market has once again turned its attention back to this key integer level. With the price recovery, Polkadot trading has also increased recently, and discussions related to the ecosystem have clearly heated up.
Online activity has significantly increased.
The report mentions that Polkadot has seen a significant increase in daily online activity recently, with an increase of about 150%. However, this growth is related to the newly deployed Polkadot Products Devnet, and therefore cannot be directly equated with a natural recovery of the mainnet.
Nevertheless, the recovery of online data has still provided support for market sentiment. The upgrade roadmap that Polkadot has been promoting in recent times continues to attract attention, including Polkadot 2.0, Agile Coretime, Elastic Scaling, as well as the subsequent JAM transformation.
Among them, Agile Coretime has replaced the previous longer-cycle parallel chain slot mode, shifting to a more flexible method of obtaining block space. The market generally regards such infrastructure adjustments as a sign of improving network scalability.
$1.20 becomes the focus of short-term trading
From the trend, DOT has broken through the downward structure that persisted for some time and has rapidly risen towards the resistance range of $1.10 to $1.20. This upward movement is accompanied by an increase in trading volume, indicating a significantly higher level of participation compared to the previous consolidation phase.
As of the time of reporting, DOT was trading around $1.08, with intraday fluctuations ranging from $1.00 to $1.11. The current focus of the market has shifted to the upper boundary of this range and the selling pressure around $1.20.
- The current reference price is approximately $1.08.
- The intraday range is approximately between $1.00 and $1.11.
- The main resistance level above is concentrated at $1.20.
The support below still needs to be observed.
If the price continues to remain above $1, the market will next look for an opportunity to test the area around $1.30. On the other hand, if it falls back below $1 again, the recent rebound structure will be put to the test.
The report also mentioned that $1 is the first level of support, with a stronger support area roughly located between $0.90 and $0.93. If this range is lost, DOT may return to a state of fluctuation within that range.
In addition, the increase of RSI in tandem with rising prices indicates enhanced short-term momentum, but it also means that the gains have expanded over a short period. In this case, it is not surprising if the price first experiences a pullback or consolidation before attempting to continue its upward trend.
