By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: Polkadot Suffers 10% Weekly Loss On Hawkish Fed – Time To Buy DOT?
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > crypto > Polkadot Suffers 10% Weekly Loss On Hawkish Fed – Time To Buy DOT?
crypto

Polkadot Suffers 10% Weekly Loss On Hawkish Fed – Time To Buy DOT?

admin Published September 23, 2022
Last updated: 2022/09/23 at 11:22 PM
Share
SHARE

[ad_1]

To shed light on the protocol’s successes, Polkadot insiders have been providing key data. As it stands, these accomplishments are very helpful to the overall ‘well-being’ of DOT. However, the coin’s value has been down alongside the rest of the crypto and financial market.

Contents
How Soon Will The Price Rally Occur?Here’s Where Polkadot Rally May Be Seen

Is this downturn going to be a great chance to buy for investors?

Markets are under intense selling pressure. The worry that the year-on-year inflation news on September 13 caused is still with us today.

The overall market cap for DOT fell by 15.3 percent, from $8.75 billion to $7.44 billion. Polkadot has shed 10% weekly loss on the heels of the U.S. central bank’s not so rosy inflation assessment. As of this writing, DOT is trading at $6.33, down 8.6 percent in the last seven days, data from Coingecko show.

These figures are not the only ones affecting market prices. Inevitably, the current interest rate hike of 0.75 percent by the Federal Reserve is seen to have a negative effect on the pricing. If things get much worse, this will have a negative impact on the value of DOT.

How Soon Will The Price Rally Occur?

Is there any way for DOT to recover quickly despite the general gloom in the financial markets?

If one looks at the daily tick indicators, one can see that DOT has been met with resistance around the $8.06 mark.

The price drop on September 13th is consistent with this. Once again, the price was rejected after reaching the $7.07 price resistance, sending it tumbling to the $6.12 support level.

Here’s Where Polkadot Rally May Be Seen

Indicators have suggested that the $6.12 support is generating positive momentum. Any significant momentum generated during this period can help the bulls break past the $7.07 resistance level.

The increasing optimistic forecast may suggest that Polkadot’s recent accomplishments are influencing investor confidence.

Chart: TradingView.com

The positive reversal on indicators aligns with recent tweets from @PolkadotInsider. The amount of investment projects on the protocol is one of Polkadot’s ecosystem’s most remarkable achievements.

DFG is honored to be the No.1 #venture by @PolkadotInsider! 🏆

Apparently, this #CryptoWinter doesn’t slow us down; we keep investing and supporting the most promising projects in this space. 💪

Thank you for all our terrific portfolios! Let’s continue to make more history! 🚀

— DFG (@DFG_OfficiaI) September 22, 2022

DFG Global led the list with 52 projects, followed by AU21 Capital with 39 and Hypersphere with 35.

This tweet was recently published on September 22. Following this, the price rose to a $6.44 high close. As of this writing, it appears that DOT is preparing a relief rally.

Upon detailed examination of the data, the token’s last settlement occurred at $6.48, its previous peak. This growing trend is reflected in the sentiment of investors.

Together, the momentum indicator, the commodities channel index, and the Stoch RSI are currently rising. This inclining behavior suggests that investor sentiment is rather upbeat, even in volatile circumstances such as the present.

DOT’s prior market activity likewise matched the XABCD harmonic pattern, which can advise investors and traders to buy the dip.

DOT total market cap at $6.9 billion on the daily chart | Source: TradingView.com

Featured image from The Daily Hodl, Chart: TradingView.com



[ad_2]

You Might Also Like

How to earn bitcoins fast

How to Tell If a Cryptocurrency is a Scam or Not

Tips to Avoid Losing In Cryptocurrency Trading

How to Sell Products Online with Bitcoins – The Ultimate Guide

Get a Cryptocurrency Trader Certification to Get Ready For The Big Game!

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin September 23, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article GM invests in Canadian battery recycler to fight supply shortage
Next Article Byju’s clears $230 million payment to Blackstone for $1 billion Aakash deal

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

earn bitcoins fast
crypto

How to earn bitcoins fast

4 Min Read
Cryptocurrency is a Scam or Not
crypto

How to Tell If a Cryptocurrency is a Scam or Not

8 Min Read
Losing In Cryptocurrency Trading
crypto

Tips to Avoid Losing In Cryptocurrency Trading

6 Min Read
Sell Products Online with Bitcoins
crypto

How to Sell Products Online with Bitcoins – The Ultimate Guide

5 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?