DOT/USDT found the bottom ????Polkadot has been correcting since the ATH and is heavily impacted by BTC. DOT is almost 37% below the last ATH despite all the bullish hype such as parachain auction. The question is where should we buy or accumulate more DOT?
Currently DOT finding support at 200 EMA and 0.786 fib if it bounces from here and breaks the trendline then we will see a massive rally. If 200 EMA doesn't hold then the next major support is around $27. Be mindful of BTC movement too because BTC movement affecting DOT price more than other alts.
This is not financial advice please DYOR
Parachainauction
Polkadot Bullish Trend: LongPolkadot has established a clear channel and is currently testing support.
Expect reversal with DOT to begin bullish action and enter price discovery as the auctions gain momentum and the Polkadot ecosystem begins to expand.
Reference is the Polkadot test network, Kusama ($KSM) to see impact of auctions on price and mCap.
Fundamental: Parachain Auction Underway
- Phase 1: Auctions #1 thru #5
** Begin: November 11, 2020
** End: December 16, 2021
- Phase 2:
**Begin: December 23, 2021
**End: March 10, 2022