Tentatively higher from an earlier low of $5.4, Polkadot is up to $5.44 today, adding $0.01, or 0.18%, to today's closing price of $5.43.
Polkadot made an initial break below its 5 day Simple Moving Average at $5.4, a possible indication of a forthcoming negative trend. Despite this, Polkadot is approaching key support, around 20 cents away from $5.25. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests Polkadot is positioned for a downward move in the near term.
While Polkadot is pretty flat so far today, mixed performances are seen elsewhere as Ethereum is up 1.45%. TRON improves 0.56% to trade around $0.052. Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47.
Polkadot has shed $35.42 points and is languishing 86.7% lower over the past year, leaving its yearly highs around $40.79 in the rear-view mirror. Polkadot is currently trading with a market cap of 6.20 billion with an average daily volume of 52.34 million.