Polkadot got off to a strong start by gaining $0.12 (+2.65%), only to run out of steam later in the session around $4.68. Currently, Polkadot is trading around the $4.65 level.
A study of Polkadot's chart reveals various key levels to watch: Polkadot broke through the $4.56 resistance, climbing 9 cents above it. Technical analysis trend indicators suggest that Polkadot made an initial breakout above its 21 day Simple Moving Average at $4.59, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that Polkadot's upper Bollinger Band® is at $4.74, this is a slight indication of a slowdown.
Notwithstanding Polkadot's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other markets are also showing gains as having closed the previous session at $1.33, NEAR Protocol is up 13.27% today to currently trade at around $1.51. FTX Token gained 10.33% and is now trading at $0.978. Binance Coin is up 3.79%.
Polkadot has shed $25.58 points and is languishing 84.97% lower over the past year, leaving its yearly highs around $30.11 in the rear-view mirror. Polkadot is currently trading with a market cap of 5.35 billion with an average daily volume of 19.23 million.