Struggling to find upward momentum, Polkadot has shed $0.021 to currently trade at $4.46 as it ranges between $4.43 and $4.49 so far today.
Trend analysis indicates 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. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $4.31, a low enough level to, generally, suggest that Polkadot is trading below its fair value. Technical analysis shows that Polkadot could begin to recover as it approaches significant support, now 5 cents away from $4.41. Dipping below could be an indication that further losses are ahead.
All in all, the technical analysis suggests Polkadot has no clear-cut direction.
Positive performances can be seen by looking at other markets as having closed the previous session at $0.872, FTX Token is up 3.1% today to currently trade at around $0.9. TRON gained 0.55% and is currently trading at $0.055. Having closed the previous session at $65.42, Litecoin is up 1.34% today to currently trade at around $66.29.
Polkadot is now trading 85.69% below the significant high of $31.33 it set around 11 months ago. Polkadot is currently trading with a market cap of 5.14 billion with an average daily volume of 25.77 million.