After four days of going up, Polkadot is down $0.031 today

Polkadot weakened earlier in the day, before moving away from its $5.43 low and recovering back to $5.48.

Following today's trading session, chart analysis suggests Polkadot could begin to recover as it approaches significant support, now 12 cents away from $5.35. Dipping below could be an indication that further losses are ahead. Technical analysis trend indicators suggest that investors are seeking long positions as Polkadot price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, Polkadot's upper Bollinger Band® is at $5.48 which indicates a further downward move may follow.

All in all, the technical analysis suggests Polkadot has no clear-cut direction.

In the meantime, negative performances are also seen in other markets, Bitcoin draws back 1.64% to trade around $27,700. MaticNetwork USD is down to $0.912, losing $0.03, after closing at $0.942 in the preceding trading session.

Other assets are showing positive performances as FTX Token gained 9.54% and is now trading at $1.36.

Polkadot has fallen back around 47.66% from the significant high of $10.52 set 11 months ago. Polkadot has a market cap of 6.51 billion with an average daily volume of 106.79 million.