Has the altcoin season started at the end? This is a difficult question to answer right now. Yes, most of the altcoin market is on the rise. However, if the price of BTC comes to a standstill, it is not yet clear that the rest of the market will continue its upward trend. With a 24-hour trading volume of $ 53.9 billion, Bitcoin is traded at $ 46,726. Despite the performance of the world’s largest cryptocurrency, Polkadot and EOS have also started to climb rapidly.
Polkadot (DOT) price analysis
DOT, the sixth largest cryptocurrency in the crypto market, has recently risen in the rankings. DOT in the last few months; Litecoin even surpassed the earnings of Bitcoin Cash, Bitcoin SV and EOS.
DOT’s price performance gained momentum with the performance of BTC towards the last week of December. In the last 7 days alone, DOT has risen over 27% and has almost doubled its price since the beginning of the year.
While the mouth of the Bollinger Bands is widening to highlight short-term price volatility, Polkadot’s technical indicators are also increasing bullish signals. Chaikin Money Flow, on the other hand, remained stable above zero, despite pointing down.
On the news side, Binance Labs has launched a Series A funding round for the Polkadot-based smart contract platform Plasm Network.
EOS price analysis
EOS, once one of the main pillars of the crypto market, dropped significantly in its rankings last year. However, similarly with DOT, it went very well and efficiently for EOS. Ranked 17th on CoinMarketCap, EOS has risen over 50% in the last 7 days and is currently trading at a level last seen in February 2020.
Here, we should also note that the aforementioned increase in EOS is supported by significant trade volume.
The rise in the recent performance of the crypto is evidenced by the technical indicators. Parabolic SAR’s dotted signs are well below the price candles, while the MACD line hovers well above the Signal line on the charts.
Looking at the news side, pNetwork announced that it will release EOS wrapped in Ethereum.
