Polkadot trades at $5.76 after gaining $0.162 (2.89%).
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. Despite this, Polkadot could be slowing down soon as it approaches resistance at $5.84. Of course, crossing it might suggest further gains are ahead.
Polkadot continues to move higher with technical analysis indicating the trend will continue in the short term.
Polkadot shows positive signs, other assets are also on par: FTX Token is up 9.54%. EOS added 4.08% to its value, 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 reached a significant high of $27.51 around 11 months ago but has lost 79.63% since then. Polkadot is currently trading with a market cap of 6.71 billion with an average daily volume of 306.96 million.