Mixed sentiment leads Polkadot cryptocurrency to trade sideways; establishes tight $6.38 to $6.46 range

Without a clear-cut direction, Polkadot is trading around $6.42 and ranging between $6.38 and $6.46.

Polkadot chart analysis: Polkadot is approaching key support, around 36 cents away from $6.06. 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. With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to asset volatility analysis, Polkadot's upper Bollinger Band® is at $6.59, suggesting that a downward move may follow.

Overall, while Polkadot has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

While Polkadot is pretty flat so far today, mixed performances are seen elsewhere as FTX Token leaps up 9.54% to trade around $1.36. Dogecoin is up 3.51% to $0.1. Having closed the previous session at $0.066, TRON is up 0.62% today to currently trade at around $0.066.

Polkadot is trading 76.88% lower compared to the $27.51 high it reached over the past year. Polkadot has a market cap of 7.53 billion with an average daily volume of 207.63 million.