Polkadot is grinding lower from $5.19 to $5.14, shedding $0.046 (0.89%) today.
Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that Polkadot's lower Bollinger Band® is at $4.76, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Support/Resistance levels obtained from chart analysis indicate that Polkadot could begin to recover as it approaches significant support, now 13 cents away from $5. Dipping below could be an indication that further losses are ahead.
All in all, the technical analysis suggests Polkadot has no clear-cut direction.
Positive performances can be seen by looking at other markets as Litecoin is up 10.72% to $68. Bitcoin Cash is up 5.17%. MaticNetwork USD is up 7.14%.
Polkadot has shed $36.83 points and is languishing 87.65% lower over the past year, leaving its yearly highs around $42 in the rear-view mirror. Polkadot is currently trading with a market cap of 5.85 billion with an average daily volume of 53.62 million.