- Polkadot price brushes shoulder with $30 just days after testing support at $24.
- NFT boom could be setting Filecoin up for another rally above $100 in the coming weeks.
The majority of major cryptocurrencies are showing sluggishness mid through the week’s trading. Bitcoin is mainly in a range between $46,000 and $50,000. Upward movement appears to struggle; thus, there is a chance BTC will dive under $46,000 before resuming the rally to $50,000.
Although Ethereum climbed above $3,400 on Tuesday, action to $4,000 is faltering. However, higher support will keep the uptrend intact in the near term. Solana has settled above $110 after rejection from the new all-time high of $118.
Polkadot:
Polkadot has kept the uptrend intact since the week started. Support at $24 was crucial for the resumption of the gains toward $30. As per the data by CoinGecko, the smart contract token is up nearly 12% in the last 24 hours and has accrued weekly gains to 20%.
The ninth-largest cryptocurrency boasts $32.4 billion in market capitalization. Solana, which has been roaring since July, displaced DOT from the eighth spot. Polkadot has attracted a $7 billion trading volume across all know exchanges, which is becoming a preferred asset in spot trading.
Meanwhile, Polkadot is pivoting at $30 as bulls struggle to keep the uptrend intact. The short-term technical outlook is bullish, accentuated by a confirmed buy signal from the Moving Average Convergence Divergence (MACD). Perhaps a real break above $32 (August high) will trigger more action to $40.
DOT/USD Daily Chart
![DOT/USD price chart](https://wordpress-1016567-4521551.cloudwaysapps.com/wp-content/uploads/2021/09/polkadot-filecoin-price-analysis-september-1-2021.png)
Note that discussions surrounding Polkadot have increased to levels last seen in March. If interest in the token remains unchanged or improves, the rally may continue to the all-time high at $50.
Filecoin:-
Filecoin has lifted from the lows of $40, seen in July, to the highs of $80. The price increase is attributed to a surge in NFT adoption on the platform. According to Wu Blockchain, a renowned crypto analyst, the token’s computing power hit levels above 10EiB.
![Filecoin price chart](https://wordpress-1016567-4521551.cloudwaysapps.com/wp-content/uploads/2021/09/polkadot-filecoin-price-analysis-september-1-2021.jpg)
According to live price data from Binance, Filecoin is teetering at $76. The daily chart shows that the Bollinger bands are moving toward a squeeze, suggesting a massive breakout.
FIL/USD Daily Chart
![FIL/USD price chart](https://wordpress-1016567-4521551.cloudwaysapps.com/wp-content/uploads/2021/09/polkadot-filecoin-price-analysis-september-1-2021-1.png)
The token is mainly in the bulls’ hands despite the barrier at $80. An ongoing consolidation seems to be giving bulls time to regroup before launching another attack toward $100.
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