After three days of going down, Polkadot is stable today, trading around $5.06

A mostly flat day so far for Polkadot, ranging between $5.04 and $5.09; currently at $5.06.

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. Polkadot's upper Bollinger Band® is at $5.54, suggesting that a downward move may follow. In contrast, Polkadot is climbing away and is now 15 cents from the $4.91 support line.

Despite the market lacking direction, technical chart analysis strongly suggests Polkadot is positioned for a downward move in the near term.

While Polkadot is pretty flat so far today, mixed performances are seen elsewhere as FTX Token added 9.54% to its value, now trading at $1.36. UNICORN Token USD withdraws 2.98% to trade around $6.43. MaticNetwork USD is down to $0.817, losing $0.019, after closing at $0.836 in the preceding trading session.

Having soared to a high of $9.52 approximately 9 months ago, Polkadot is now trading 46.77% lower. Polkadot has a market cap of 6 billion with an average daily volume of 101 million.