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Polkadot ($DOT), which has been on a steady upward trend for a week, is up more than 10% and trading near $5.
Polkadot ($DOT) has had an incredible week after a sustained downtrend, with $DOT hitting its lowest level in years.
$DOT up 10%
Polkadot ($DOT) has surged after weeks of turmoil and confusion, reaching multi-year support at $3.61. $DOT has been on an upward trajectory after months of weakness, and is approaching $5. $DOT has been trading in the green since last Friday, driven by demand for $DOT at lower prices. $DOT closed the previous session at $4.39, and buyers are trying to push the price above $4.50.
Buyers were able to control the session on Monday, posting a 2.05% gain to settle at $4.48. $DOT successfully reclaimed the $4.50 price level on Tuesday, posting a 0.89% gain to close the session at $4.52.
On Wednesday, $DOT broke above its 20-day SMA (simple moving average) by 3.32%. On Thursday, a slight rally took the price to $4.69. On Friday, $DOT closed the session at $4.89. On Saturday, $DOT briefly rose above the $5 level, eventually closing the session at $4.98.
In the current session, $DOT is down 2.71% and is currently trading at $4.87.
Last week $DOT rose by about 10%. 
Polkadot July Recap
Despite the struggles with price appreciation, Polkadot saw several significant updates and developments in July. Polkadot showed exactly why it is considered one of the largest DAOs after the number of OpenGov Referendas reached its highest level this year. Polkadot also saw significant activity on GigHub, with the total number of repositories within the Polkadot ecosystem now at 29,917.
The network has seen a significant uptick in forum activity. Along with major developments, Polkadot introduced two new APIs in July.
Disclaimer: This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.
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