After three days of declines, Polkadot is up $0.107 today

After dipping down to $5.24, Polkadot regains earlier losses and goes up to $5.41.

Polkadot made an initial breakout above its 10 day Simple Moving Average at $5.39, a potential indicator of a newly emerging bullish phase. In contrast, Bollinger Band® analysis indicates that current price action is approaching the upper band at $6, thereby suggesting that Polkadot is becoming overvalued. Polkadot is 9 cents away from testing key resistance at $5.32. Peaking above this level could inspire market bulls and open the path to further gains.

Polkadot continues to move higher with technical analysis indicating the trend will continue in the short term.

Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Litecoin rises 4.78% to trade around $94.43. MaticNetwork USD is up 6.13%.

Polkadot has shed 21.57% over the past three months. Polkadot is currently trading with a market cap of 6.41 billion with an average daily volume of 123.84 million.