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Polkadot Price continued to unify the level of decisive support, pointing to a potential strong recovery with the high development activity.
Polkadot (Dot) icon was traded at $ 4, which is more than decisive support at $ 3.63, as it failed to collapse since 2023.
According to data from Santiment, the number of obligations in the network jumped to 53.6 on Wednesday, the highest level since April 14. This represents a significant increase from the lowest level for this month 31.8. Meanwhile, development activity increased for seven days by 25.7 % to 314.
Likewise, the activity in Kusama (KSM) jumped, the Canary Network, also with more than 25 % in the same period. These makes of Polkadot and Kusama make some of the most active chains in terms of GitHub after the Internet (ICP), Filecoin (FIL), and Cardano (ADA).
This rise in development is likely to be associated with a continuous transition to Polkadot 2.0. Two major components are already implemented: Agile Coretime and simultaneous support. Agile Coretime replaces the umbrella auction auction system with the prohibition space model, while the simultaneous support reduces time to only six seconds.
Developers are now working on the third stage: flexible scaling, which provides dynamic resources, allowing umbrellas to expand based on demand.
Technical analysis of the price of Polkado
The daily graph shows that the price of the point has reached about $ 3.5, as it failed to decrease since November 2023. The 3 -year -old chart style formed $ 11.70, the highest swing on December 2 last year.
It was the last time that Polkadot decreased to this level in November, after which it rose by 187 %. Before that, nearly 200 % flourished to its peak on March 13, 2023.
The two lines of the percentage are the oscillator, the price of the bullish. In addition, the relative strength index was heading up.
Therefore, Bolkadot’s expectations are upward, as the main goal was to rise in December at $ 11.63. This bullish opinion is still intact as long as Dot exceeds the level of support at $ 3.50.