ZebPay Trade Desk stated that Polkadot gained more than 15% to a new ATH after crossing the $50 level overnight. The impressive movements came as the crypto project awaited the parachain auction that would happen soon.
Top cryptocurrencies reentered the green during Tuesday sessions. Excluding Shiba Inu and Tether, eight of the top ten digital coins traded with gains early today. The crypto space printed mixed sessions, a usual thing in the industry. SHIB lost 4%, while Polkadot increased its price by 17%.
The overall cryptocurrency market cap surged briefly to explore the $2.64 trillion level. However, the global crypto volume remained almost unchanged, hovering at $130.9 billion. ZebPay Trade Desk believes that the anticipated parachain auction by Polkadot contributed to its surge. DOT increased by more than 15%. That way, the altcoin crossed $50 overnight to record a new ATH.
The latest meme crypto by Netflix Squid Game (SQUID) increased by over 230,000% over last week to stance at $2,861.8 but plunged by 100% to hover below half a cent (Coinmarketcap data). Meanwhile, BTC has traded range-bound in the past few sessions. The leading crypto seems to slow down after the bullish narrative over the past two weeks that had $BTC above $66,900. CoinDCX Research Team stated that the Meta-theme surge started after Facebook confirmed the Metaverse rebrand, and the momentum seems not to fade towards this new week.
Technical View
Projects such as Decentraland witnessed increased appetite as the metaverse craze overtake the crypto world. Decentraland is an ETH-based blockchain that allows users to purchase and sell digital real estate and play games with other users. It is among the metaverse examples. MANA is the coin that users utilize when interacting with the network.
MANA surged from $0.67 low in October towards $4.5 as the month ended. That translates to a whopping 570% return. However, the token saw slight corrections since then. At the moment, MANA has its price teetering at the $3 level. Remember, consolidation is somewhat healthy for upcoming rallies as the crypto cools the RSI, currently standing at 75-level. Meanwhile, MANA should hold its trend-line support and battle the resistance level near $3.12 and $3.47 to resume its bullish actions.
