Bearish Polkadot currently $0.207 lower after trading as low as $6.28

Polkadot is down to $6.29, after ending today at $6.49. Overall, a 3.18% loss or $0.207 today.

Polkadot's upper Bollinger Band® is at $7 which indicates a further downward move may follow.

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, Litecoin is trading around $81.38 (down $3.1).

Positive performances can be seen by looking at other markets as FTX Token jumps 9.54% to trade around $1.36. Solana is up 5.14%.

Polkadot is currently trading with a market cap of 7.34 billion with an average daily volume of 268.58 million.