Polkadot drops from $6.47 to $6.36, losing $0.104 (1.61%) today.
Polkadot made an initial break below its 200 day Simple Moving Average at $6.37, a possible indication of a forthcoming negative trend. Polkadot's upper Bollinger Band® is at $6.91 which indicates a further downward move may follow. Polkadot fell below the $6.41 support zone and moved 5 cents beyond it; the next level of support with significant buyer interest is estimated at $6.35.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Polkadot to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Polkadot is expected to attract significant bearish sentiment in the coming days.
In the meantime, negative performances are also seen in other markets, after ending today's session at $1.12, MaticNetwork USD lost $0.038 and is trading around $1.08.
Positive performances can be seen by looking at other markets as UNICORN Token USD gained 2,586,200% and is currently trading at $6.61. FTX Token leaps up 9.54% to trade around $1.36.
Polkadot has managed to gain 48.36% so far this year despite trading at lows around $4.28 previously. Polkadot is currently trading with a market cap of 7.32 billion with an average daily volume of 44.16 million.