Polkadot rallies $0.161 (2.5%) deep into the session, trading at $6.57.
Polkadot reversed direction at $6.48 resistance zone and retreated back 9 cents below it. Despite posting gains so far today, Polkadot slid below its 3 day Simple Moving Average at $6.38 in earlier trade — an early indicator that a negative trend could be emerging. Polkadot's upper Bollinger Band® is at $6.59, this is a slight indication of a slowdown. On the other hand, note that price action overcame a known Fibonacci resistance level at $6.44 by around $0.134 with prices hammering out a $6.36 – $6.58 session range.
Technical analysis suggests there could be an imminent reversal for Polkadot.
Other markets are also showing gains as FTX Token gained 9.54% and is now trading at $1.36. EOS added 5.09% to its value, now trading at $1.27. Ethereum is up 4.26%.
Over the past 11 months, Polkadot has retreated 66.73% from a noteworthy peak of $19.27. Polkadot has a market cap of 7.73 billion with an average daily volume of 155.40 million.