Polkadot recovers back to $5.2 after dipping down to $5.13 today, in a session that followed a closing value of $5.21.
Visual analysis of Polkadot's chart shows that Polkadot bounced after reaching the $5.13 support zone, climbing 8 cents above it. Technical analysis trend indicators suggest that Polkadot made an initial breakout above its 5 day Simple Moving Average at $5.22, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that Polkadot's upper Bollinger Band® is at $5.63, suggesting that a downward move may follow.
With market volatility ebbing, the current technical outlook indicates Polkadot will remain range-bound for the immediate future.
While Polkadot is pretty flat so far today, mixed performances are seen elsewhere as Bitcoin is down to $17,423, losing $394.74, after closing at $17,817 in the preceding trading session. Ethereum stumbles 2.98% to trade around $1,270.41. Litecoin is down to $73.57, losing $1.86, after closing at $75.44 in the preceding trading session.
Polkadot is now trading 83.36% below the significant high of $31.33 it set around 11 months ago. Polkadot is currently trading with a market cap of 5.97 billion with an average daily volume of 25.47 million.