The Polkadot network continues to get attention from most investors about its stately technology and projects and is often linked as a competitor to Ethereum.
Polkadot has been showing quite encouraging price movement in recent times, producing a 32% jump reaching its latest high of $ 33.85 in 2 days.
Some of the factors that have driven the price movement soared, among them is the ‘parachains slot auction’.
Can be observed on the DOT/USDT price movement chart.
The August trading session, DOT seems to have managed to produce over 93% jumps!
From a technical point of view, the DOT price movement is seen hovering in the $ 33 resistance zone, either making a correction or continuing to rise higher.
If the price movement shows a bullish pattern, it will break the $ 33 resistance zone and in turn will make consecutive highs.
However, if the price movement shows a bearish pattern, the $ 29 RBS (resistance become support) zone will be tested again to either make a rebound or continue the decline to a lower level.
At the time of writing, the DOT is trading at the $ 32 price level jumping over 6% in the last 24 hours.