After three days of going down, Polkadot is stable today, trading around $4.37

Polkadot is now trading at $4.37 after tracing out a steady $4.34 – $4.39 range today.

Concerning technical analysis and more specifically, trend indicators, 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. Momentum evaluation shows that the Relative Strength Index indicates Polkadot is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Analysis based on the asset volatility indicates that Polkadot's upper Bollinger Band® is at $5.69 and the lower is $4.17. Support/Resistance levels obtained from chart analysis indicate that Polkadot is climbing away and is now 13 cents from the $4.24 support line.

Overall, the technical outlook suggests Polkadot is likely to remain muted for the immediate future, with no clear-cut direction.

At the same time, mixed performances are seen elsewhere as FTX Token is up 9.54%. Binance Coin is up 1.44%. TRON stumbles 1.32% to trade around $0.07.

Polkadot has shed 28.15% over the past three months. Polkadot has a market cap of 5.22 billion with an average daily volume of 121.10 million.