Polkadot slides down from $5.97 to $5.85 today, losing $0.121 (2.03%).
Polkadot's upper Bollinger Band® is at $6.53 which indicates a further downward move may follow. In contrast, despite being in the red so far in the current trading session, Polkadot peaked above its 21 day Simple Moving Average around $6.18 — typically an early indicator of a new bullish trend beginning to emerge. Polkadot could begin to recover as it approaches significant support, now 5 cents away from $5.8. Dipping below could be an indication that further losses are ahead.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Polkadot.
In the meantime, negative performances are also seen in other markets, Ripple is down to $0.456, losing $0.013, after closing at $0.469 in the preceding trading session. After ending today's session at $1.1, EOS lost $0.025 and is trading around $1.07. Bitcoin Cash stumbles 1.71% to trade around $109.04.
Polkadot is now trading 88.92% below the significant high of $53.88 it set around 11 months ago. Polkadot has a market cap of 6.61 billion with an average daily volume of 28.44 million.