DOT’s 11% weekly hike – Here’s how RWAs are helping Polkadot

While most altcoins have seen major bouts of depreciation lately, according to crypto analyst Michael Van De Poppe, a considerable upswing is taking shape on DOT’s charts. In fact, DOT surged by 11.88% over the past week, leaving analysts optimistic about” $DOT is likely going to follow Ethereum in its upward expansion. This means that the current valuations of Polkadot are extremely low. With all the new segments, I expect a lot from the Polkadot ecosystem.

Since RWAs in the traditional markets seek reliable, secure, scalable, and affordable chains, Polkadot may well be well-positioned to thrive.The last 7 days saw the altcoin climb significantly on the price charts. The same was evidenced by AMBCrypto’s own analysis too, with the same revealing how the market trend shifted from bearish to bullish on the back of a sudden price hike and a spurt in buying pressure.

The positive histogram, while the MACD is above the signal line, usually indicated the trend’s reversal and the uptrend’s start. Simply put, the bearish trend seemed to weaken, with the market at the early stages of a bullish reversal.Equally, the RSI 51, which was slightly above neutral, underlined the start of an uptrend. The RSI rose from 39 in the last 3 days to 51, indicating a sustained weakening of bearish momentum.

In fact, the negative directional indicator fell from a high of 33 to a low of 26 in 7 days. What this meant was that bearish momentum has been weak, and bulls may be pushing the market in their favor.Here, it’s worth looking at other metrics too. In the last 7 days, for instance, development activity rose from 2.2 to 2.9.

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