Polkadot trades at $4.59 after gaining $0.115 (2.56%).
Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Momentum evaluation shows that the Relative Strength Index has gone below 30, going into oversold conditions and allowing more gains. According to asset volatility analysis, Polkadot's lower Bollinger Band® is at $4.52, indicating that the market is oversold and fertile for new buyers. Polkadot chart analysis: Polkadot is 12 cents away from testing key resistance at $4.72. Peaking above this level could inspire market bulls and open the path to further gains.
With market volatility ebbing, the current technical outlook indicates Polkadot will remain range-bound for the immediate future.
Other markets are also showing gains as Binance Coin goes up 3.59% to trade around $249.27. Dogecoin is up 4.4%. Ethereum gained 3.46% and is currently trading at $1,208.62.
Polkadot has lost 3.17% over the last a day. Polkadot has a market cap of 5.28 billion with an average daily volume of 26.15 million.