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Polkadot has remained strong this week, which is consistent with the overall market rally.
This week the markets consolidated with both Bitcoin and altcoin markets gaining value. Polkadot ($DOT) maintained the market upside, surging above the $7 and important $7.50 price levels.
$DOT remains above $7 despite week of volatility.
Polkadot has seen some strength this week after its price fell below the critical trading level of $7 last Sunday, closing the session at $6.93. $DOT ended last weekend in the red after a relatively strong rise during the week that saw the price rise 6.58%.
However, the market was strong this week. $DOT rose 9.38% on Monday, breaking several key resistance levels. $DOT was trading at $7.58 after reaching a high of $7.60 on Monday. Tuesday’s volatile session saw $DOT fall to a low of $7.43 before buyers regained control, ending the session at $7.62. However, sellers controlled $DOT on Wednesday, down 2.10% to $7.46%.
$DOT continued its bearish streak on Thursday, falling to a low of $6.91 before eventually recovering above $7 to close the session at $7.20. The price of Polkadot rose slightly on Friday despite a volatile trading day. The price rose to a high of $7.39 and a low of $7.02 before ending the session at $7.25.
Prices rose slightly on Saturday, ending the session at $7.35.
At the time of writing, $DOT is trading at $7.46, up 2.45% from the previous day.
Polkadot is currently recording a 7-day gain of 6.10%.
Cryptography Summary
A lot happened in the cryptocurrency space last week. The US SEC has made an important decision by approving a spot Ethereum ETF. The SEC’s approval comes as welcome relief after intense speculation that the commission was considering treating ETH as a security.
Decentralized money protocol Polimec announced its launch on Polkadot earlier this week. Polimec aims to provide a transparent way for projects to raise funds and issue tokens while maintaining regulatory compliance.
Disclaimer: This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
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