Polkadot (DOT) rose +4% yesterday, before the altcoin fell -1% to $7.37 today. Polkadot is benefiting from an increase in open interest this week and is up 9% over the past 7 days.
In this article we look at how DOT is approaching key resistance around $7.50 and what could result from a breakout above this level.
What will Polkadot do after approaching the key resistance level?
The Polkadot price has risen considerably over the past week, after DOT fell below its 200-day average (blue). This leaves DOT about 9% higher than a week ago, having been rejected at the level around $7.50, a key resistance.
As a result, Polkadot is down more than -1% today while the crypto market moves sideways around 10:00 AM. In case there is enough buying pressure, DOT could test resistance again today or tomorrow. The Relative Strength Index (RSI) of 44 indicates that there is enough buying pressure on the technical front for another attempt to break above $7.50.
In the event that Polkadot breaks above $7.50, the next major resistance is at the 30-day moving average (yellow) around $8.10. After breaking this level, the way should be clear for a pump of over +25% to $10.
Let’s do this🧙♂️ pic.twitter.com/sRewqUd76X
— FLASH (@THEFLASHTRADING) April 22, 2024
The resistance at $7.50 is represented by the top of the descending trend line from the peak of $11.90 on March 14. On April 13, DOT touched the bottom of this trend around $5.80 and from here Polkadot shot back up.
How much DOT can gain in value in the coming week depends on a successful break above the key $7.50 level. Later this year, the Polkadot price could potentially rise much further, as the cross-chain protocol token is still more than 80% below its ATH of $55.
Small cryptos with potential to rise even more than Polkadot
Although Polkadot is still over 80% below its ATH, it still has a massive market cap of $10.5 billion, meaning a lot of volume is needed to bring the altcoin back to its ATH. With this volume that DOT can go 6-7x, a smaller altcoin could go x100, provided you can find the right small cryptos with potential.
In this article we look at a number of new crypto coins that still have a low market cap, but also have the potential to rise rapidly in the coming weeks and months. These crypto tokens are temporarily for sale in a presale, but are already receiving quite a lot of attention and therefore have the potential to explode in value soon.
Dogeverse (DOGEVERSE)
A new altcoin that’s hard to ignore is Dogeverse (DOGEVERSE), a multi-chain meme coin that has already raised almost $10 million in its presale in just a few weeks. The Dogeverse team sees the potential in meme coins on multiple chains, such as Solana and Base, but also Ethereum, the Binance Smart Chain, Avalanche and Polygon.
These popular chains can gain a lot of liquidity and volume in the event of a new crypto bull run with the help of meme coins launched on the network. Dogeverse aims to become known by launching on the above 6 blockchains, users can also bridge DOGEVERSE between these chains.
Dogeverse’s presale has raised $9.8 million and you can buy DOGEVERSE for $0.0003 each, but be quick as this price will increase this afternoon, before the meme coin launches later at an even higher price. Stake your tokens during the presale to passively earn even more tokens.
Slothana (SLOTH)
Solana is one of the most popular blockchains at the moment. This chain has been overloaded in the past month due to the congestion on the network, thanks to its low transaction costs and processing times. Slothana (SLOTH) is a new promising meme coin that will soon be launched on the Solana blockchain.
Slothana has raised more than $10 million in just a few weeks, a sign that the meme coin has received a lot of attention. You can also see this when you look at the fact that the sloth has built up more than 23,500 followers in one month.
🚀🌕 Prepare for a moonshot as we ready the engines of the Slothship! 🌿🦥 With the launch just around the corner, our slothful crew is gearing up for an epic journey through the crypto cosmos. Buckle up and hold onto your branches, because there’s just 6 days to go 🌌🌟… pic.twitter.com/yHBrE3NP5x
— Slothana (@SlothanaCoin) April 22, 2024
You still have just over 5 days to buy SLOTH for a fixed low price, so you will have 10,000 tokens for 1 SOL during the presale. Slothana will soon launch and presale investors will automatically receive their tokens as an airdrop, without having to manually claim these tokens.
Mega Dice token (DICE)
Mega Dice is a casino with more than 10,000 active players per month and a turnover of more than $50 million per month. This existing casino with a large userbase recently announced its own token and is selling its Mega Dice token (DICE) in the presale for a fixed low price.
This new Solana token brings additional benefits for players and investors. For example, players can use the token for exclusive bonuses, while investors can stake the tokens to get a share of the casino’s revenue.
Join the $DICE airdrop and earn your share of the $750,000 airdrop🏆🚀
To stand a chance, wager $5000 or more between 12.04.24 to 03.05.24 – with a maximum airdrop of $37 500 per player! 💸
The more you wager, the bigger your airdrop 🚀
How to qualify & FAQs 🤔👇 pic.twitter.com/Qv8GaxuayC
— Mega Dice Casino (@megadice) April 22, 2024
Mega Dice has already raised over $450,000 in its presale and you can buy DICE for $0.069 each using SOL, ETH, BNB, and USDT. Soon DICE will be launched on exchanges and you can use the token to play in the casino, stake for passive income or sell for possible profit.
Disclaimer: This article contains insights from independent authors and is not part of BitcoinMagazine.nl’s editorial content. This is not investment advice, please do your own research.
Source: https://bitcoinmagazine.nl/nieuws/polkadot-koers-stijgt-dagelijks-4-en-nadert-key-niveau-wat-gaat-polkadot-doen-deze-week
