Tentatively higher from an earlier low of $5.58, Polkadot is up to $5.76 today, adding $0.162, or 2.89%, to today's closing price of $5.6.
Polkadot made an initial breakout above its 5 day Simple Moving Average at $5.78, a potential indicator of a newly emerging bullish phase. Polkadot's lower Bollinger Band® is at $5.29, indicating that the market is oversold and fertile for new buyers. In contrast, Polkadot is 8 cents away from testing key resistance at $5.84. Peaking above this level could inspire market bulls and open the path to further gains.
Polkadot continues to move higher with technical analysis indicating the trend will continue in the short term.
Other markets are also showing gains as FTX Token is up 9.54%. EOS gained 4.08% and is now trading at $1.17. Having closed the previous session at $1.03, Tezos USD is up 3.17% today to currently trade at around $1.06.
Polkadot is now trading 79.63% below the significant high of $27.51 it set around 11 months ago. Polkadot has a market cap of 6.71 billion with an average daily volume of 306.96 million.