Bearish Polkadot currently $0.104 lower after trading as low as $6.18

Struggling to find upward momentum, Polkadot has shed $0.104 to currently trade at $6.21 as it ranges between $6.18 and $6.43 so far today.

Polkadot broke through the $6.22 support line and dropped 17 cents below it. Polkadot made an initial break below its 50 day Simple Moving Average at $6.21, a possible indication of a forthcoming negative trend. Polkadot's upper Bollinger Band® is at $6.91 which indicates a further downward move may follow.

Looking forward, Polkadot is poised to extend its strong downtrend and continue declining.

In the meantime, negative performances are also seen in other markets, after ending today's session at $0.492, Ripple lost $0.016 and is trading around $0.476. Dogecoin is down $0.003 from the beginning of the session and now trades around $0.086.

Other assets are showing positive performances as FTX Token is up 9.54%.

Polkadot is now trading 67.23% below the significant high of $19.27 it set around a year ago. Polkadot has a market cap of 7.30 billion with an average daily volume of 191.52 million.