Currently trading at $5.89, Polkadot remains range-bound between $5.74 and $5.89.
Polkadot is 15 cents away from testing key resistance at $6.04. Peaking above this level could inspire market bulls and open the path to further gains. Although up today, early price action saw Polkadot dropping below its 3 day Simple Moving Average at $5.78 — an early indicator that a new downward trend could be emerging. Polkadot's upper Bollinger Band® is at $6.07, this is a slight indication of a slowdown.
Technical analysis suggests there could be an imminent reversal for Polkadot.
Polkadot shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Cosmos USD is up 1.95%. EOS is up 1.18%.
Polkadot has managed to gain 32.64% so far this year despite trading at lows around $4.28 previously. Polkadot has a market cap of 6.80 billion with an average daily volume of 26.85 million.