Polkadot as one of the top 5 Financial Income Cryptos, which further added value to the blockchain.
Simply put, while the altcoin received recognition from several players in the crypto-market, its social position remained pretty stagnant. The same was pretty evident when Santiment’s charts were looked at.Interestingly, when DOT’s price declined on the charts, a massive surge in its development activity happened. This is unusual as an increase in development activity is generally a positive signal for a blockchain.
Needless to say, the exec’s statements have been in line with Polkadot’s on-chain updates and developments.DOT’s daily chart also did not share a clear picture of what to expect in the days to come, as a few market indicators were bearish while others were bullish. For instance, the Exponential Moving Average Ribbon revealed that bears had an upper hand in the market as the 20-day EMA was below the 55-day EMA. Additionally, the MACD also registered a bearish crossover, further minimizing the chances of a northbound breakout in the short-term.
However, the Relative Strength Index and Chaikin Money Flow registered upticks, giving some hope for a price surge in the near-term.Subscribe to get it daily in your inbox.