Polkadot: Will this ‘upgrade plan’ help DOT rally in near-term

ambcrypto.com:

Polkadot published a tweet on their Twitter page in which they highlighted various proposals that were focused on big network enhancements that were going to be implemented in the near future.

In their official statement, they went into detail about further features that members of the network may expect to see implemented in the coming days.

The network is implementing Asynchronous Backing in an effort to decrease block duration (from 12 seconds to six seconds) and improve finality.

Parathreads, a parachain that operates on a pay-as-you-go basis and makes it simple to create a blockchain and deploy a smart contract, has also been proposed.

The group also proposed replacing the council and technical committees with the Polkadot Fellowship and subjecting all community decisions to referendums.

An examination of Santiment’s development metric revealed a very busy period of development (with a score of 86.14). Developers are clearly putting forth the effort, and more features will likely be released soon.

In addition to the metric being high, the line also showed an upward trend, which indicated that development activity was on the rise and would likely continue to be so.

Source: Santiment

An examination of the chart revealed that the share price of DOT did not react favorably to the announcement of the new features. At the end of trading on 6 October, the token was worth $6.34, down from its $6.44 opening price.

In the same time frame, it traded as low as $6.25, down 1.55%. Well, the token was trading at a loss of about 1%, at the time of writing.

According to the trend lines, the altcoin was unable to push through the $6.85 resistance level. At first glance, $6.10 seemed to be holding as a solid support level.

As per the