A mostly flat day so far for Polkadot, ranging between $5.78 and $5.87; currently at $5.82.
Technical chart analysis shows Polkadot is approaching key support, around 14 cents away from $5.68. 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. With regards to technical trend indicators, chart analysis show that Polkadot made an initial breakout above its 5 day Simple Moving Average at $5.87, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Polkadot's upper Bollinger Band® is at $6.29, suggesting that a downward move may follow.
Overall, technical indicators suggest Polkadot has no obvious direction for the immediate future.
Meanwhile, mixed performances are seen elsewhere as FTX Token is up 9.54%. Binance Coin closed at $288.44 (down 2.17%). TRON increases 0.75% to trade around $0.061.
Polkadot reached a significant high of $27.51 around 9 months ago but has lost 78.9% since then. Polkadot is currently trading with a market cap of 6.74 billion with an average daily volume of 32.46 million.