Polkadot goes up to $5.91, having dipped down to $5.84 earlier.
Polkadot made an initial breakout above its 200 day Simple Moving Average at $5.92, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $6 currently serving as resistance Polkadot's lower Bollinger Band® is at $5.51, indicating that the market is oversold and fertile for new buyers. In contrast, Polkadot could be slowing down soon as it approaches resistance at $6.1. Of course, crossing it might suggest further gains are ahead.
Examining the technical analysis landscape, Polkadot might continue its downtrend in the short term.
Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Cosmos USD added 4.34% to its value, now trading at $11.4. Bitcoin is up 2.18%.
Polkadot is trading 65.67% lower compared to the $17 high it reached over the past year. Polkadot has a market cap of 6.96 billion with an average daily volume of 190.27 million.
