{"id":176006,"date":"2023-10-17T22:48:07","date_gmt":"2023-10-17T17:18:07","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176006"},"modified":"2023-10-17T22:48:07","modified_gmt":"2023-10-17T17:18:07","slug":"polkadot-road-to-recovery-will-4-mark-the-turning-point-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/polkadot-road-to-recovery-will-4-mark-the-turning-point-crypto-news\/","title":{"rendered":"Polkadot Road To Recovery – Will $4 Mark The Turning Point? – Crypto News"},"content":{"rendered":"

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Polkadot (DOT) has been grappling with a descending resistance trendline, experiencing a relentless decline since February. In the month of October, the digital asset suffered a 10% drop, plummeting from $4.3 to $3.6.\u00a0<\/span><\/p>\n

Market analysts are warning of the potential for further losses should the prevailing bearish pressure persist. However, a slight glimmer of hope emerged as DOT attempted a reversal at $3.6, hinting at the possibility of overcoming the overhead resistance barrier.<\/span><\/p>\n

At present, the DOT price according to <\/span>CoinGecko<\/span><\/a> stands at $3.74, depicting a marginal 0.3% decline over the last 24 hours and a 2.8% dip over the span of seven days.\u00a0<\/span><\/p>\n

DOT\u2019s Struggle For Recovery<\/strong><\/h2>\n

The absence of horizontal support below the current price underscores the significance of Fib retracement levels in forecasting potential bottoming areas. Notably, a Fibonacci retracement tool was utilized, encompassing the lower high of $4.8 on August 29 and the recent dip of $3.6 on October 12. <\/span>This analysis<\/span><\/a> highlighted that the path to recovery for DOT faces significant obstacles at the 23.6% Fib ($3.9) and the 38.2% Fib ($4).<\/span><\/p>\n

Complicating matters further, the $4 level, serving as the second resistance target, coincides with a daily bearish order block (OB). This confluence suggests that crossing the $3.9 threshold could prove challenging for bullish momentum.<\/span><\/p>\n

Polkadot Developers Stand Strong<\/strong><\/h2>\n

Despite the persistent price downturn, the developers within the Polkadot ecosystem remain resolute and undeterred. This unwavering commitment is evident from the substantial <\/span>Polkadot active developers<\/span><\/a>, which are currently hovering close to an all-time high. This figure notably exceeds the levels recorded in 2021 when the altcoin\u2019s price reached its peak.<\/span><\/p>\n<\/p>\n

Total crypto market cap is currently at $1.06 trillion. Chart: TradingView.com<\/a><\/pre>\n
In a <\/span>recent announcement<\/span><\/a>, Parity Technologies, a significant player in blockchain infrastructure, revealed its strategic shift towards decentralization within the Polkadot (DOT) ecosystem. The forthcoming organizational changes are anticipated to mark a new chapter for the company in the months to come.<\/span><\/p>\n
Polkadot\u2019s Cutting-Edge Technology Advancement<\/strong><\/h3>\n
Amidst circulating rumors, Parity Technologies promptly dispelled speculations about a massive layoff of approximately 300 employees during a recent off-site gathering in Mallorca. The company emphasized that any adjustments to the workforce will be gradual and in alignment with its progressive decentralized strategy.<\/span><\/p>\n
Emphasizing their dedication, Parity underscored their commitment to driving the advancement of Polkadot\u2019s cutting-edge technology. Their key focus remains on enhancing the developer experience and fostering a resilient developer community within the Polkadot ecosystem, ensuring its sustained growth and innovation.<\/span><\/p>\n
(This site\u2019s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from Mudrex<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Polkadot (DOT) has been grappling with a descending resistance trendline, experiencing a relentless decline since February. In the month of October, the digital asset suffered a 10% drop, plummeting from $4.3 to $3.6.\u00a0 Market analysts are warning of the potential for further losses should the prevailing bearish pressure persist. However, a slight glimmer of hope […]<\/p>\n","protected":false},"author":2,"featured_media":176007,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-176006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176006"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176006\/revisions"}],"predecessor-version":[{"id":176008,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176006\/revisions\/176008"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/176007"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}