Polkadot recovering almost all the way back to $6.76 today, after dipping down to $6.55.
Polkadot made an initial break below its 10 day Simple Moving Average at $6.6, a possible indication of a forthcoming negative trend. A Bearish Harami chart pattern, which is a means of predicting reversals in bull markets. When a Bearish Harami is detected at the top of a prevailing uptrend, it is typically considered a bearish signal and a prelude to a potential trend reversal. Polkadot's upper Bollinger Band® is at $7.02 which indicates a further downward move may follow.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Polkadot to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Polkadot is expected to attract significant bearish sentiment in the coming days.
In the meantime, negative performances are also seen in other markets, after ending today's session at $0.067, TRON lost $0.002 and is trading around $0.065.
Positive performances can be seen by looking at other markets as UNICORN Token USD explodes 2,599,700% to trade around $6.63. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
Polkadot has fallen back around 75.43% over the past 10 months, from a notable high of $27.51. Polkadot is currently trading with a market cap of 7.70 billion with an average daily volume of 46.20 million.