Mixed sentiment leads Polkadot cryptocurrency to trade sideways; establishes tight $4.62 to $4.65 range

Polkadot is now trading at $4.63 after tracing out a steady $4.62 – $4.65 range today.

Polkadot is approaching key support, around 12 cents away from $4.51. 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. Polkadot's upper Bollinger Band® is at $5.73 and the lower is $4.36.

Despite muted price action in Polkadot, chart analysis indicates it is positioned for a bullish run in the short term.

At the same time, mixed performances are seen elsewhere as FTX Token added 9.54% to its value, now trading at $1.36. Binance Coin increases 2.1% to trade around $249.12. Tezos USD gained 1.63% and is currently trading at $0.735.

Polkadot has shed 26.24% over the past three months. Polkadot has a market cap of 5.53 billion with an average daily volume of 115 million.