Mixed sentiment leads Polkadot cryptocurrency to trade sideways; establishes tight $5.29 to $5.33 range

Without a clear-cut direction, Polkadot is trading around $5.3 and ranging between $5.29 and $5.33.

Polkadot's upper Bollinger Band® is at $5.49, suggesting that a downward move may follow. Despite this, Polkadot is approaching key support, around 6 cents away from $5.24. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

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

At the same time, mixed performances are seen elsewhere as FTX Token is up 9.54% to $1.36. UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session. After ending today's session at $0.517, Ripple lost $0.007 and is trading around $0.509.

Polkadot is now trading 18.63% below its 3-month high of $9.85. Polkadot has a market cap of 6.34 billion with an average daily volume of 95.24 million.