Polkadot is range-bound between $5.27 and $5.38 today after shedding $0.048 and closing at $5.38 today.
Technical chart analysis shows Polkadot reversed direction at $5.25 support zone and climbed 8 cents above it. Concerning technical analysis and more specifically, trend indicators, Polkadot made an initial break below its 5 day Simple Moving Average at $5.35, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $4.78, a low enough level to, generally, suggest that Polkadot is trading below its fair value.
With market volatility ebbing, the current technical outlook indicates Polkadot will remain range-bound for the immediate future.
Positive performances can be seen by looking at other markets as Dogecoin gained 7.74% and is currently trading at $0.088. FTX Token gained 4.77% and is now trading at $1.44. EOS climbs 3.26% to trade around $0.939.
Polkadot has shed $34 points and is languishing 86.32% lower over the past year, leaving its yearly highs around $39.37 in the rear-view mirror. Polkadot has a market cap of 6 billion with an average daily volume of 52.31 million.