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Polkadot is an open-source multi-chain protocol that connects and secures different blockchains, enabling them to exchange data assets. It is a Layer-0 meta protocol that can update itself through on-chain governance by its token holders.  Polkadot supports a decentralized web or web3, where users control their data and applications. It connects the public and private chains. The network has a user-driven governance system where token holders vote on network decisions. Nominators, validators, and collaborators help secure and maintain the network.  Polkadot price has experienced a drop of over 5% in the past two sessions. Moreover, the price still stands above the recent swing low indicating a pullback. The recent sessions have seen a price surge from a low of $3.5 to $4.75; gaining nearly 28%.  DOT had a 24-hour trading volume of $199.5 Million with a drop of 24.87% as compared to the previous day. The live market cap of Polkadot is $5.58 Billion and stands at 14th among the top cryptos. The volume-to-market cap ratio is 3.65% indicating a low volatility in the market.  Polkadot Price Prediction November 2023 Source: DOT/USD By TradingView The last two weeks have been favorable for Polkadot buyers as the crypto price has gained over 28% in the period ascending from a low of $3.5. The price has surpassed the recent swing high, turning optimistic in the short term. However, the long-term trend remains indecisive at the moment as the price has not managed to close above the 200-day EMA. The price needs more buying volume to turn bullish. The technical indicators imply that the DOT price bounced back from the 50-day EMA indicating how the EMA is acting as a dynamic support for the price.  The price prediction for November 2023 showcases a neutral to bullish outlook as the price has an upper…

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Filed under: News - @ November 3, 2023 10:08 pm