Mixed sentiment leads Polkadot cryptocurrency to trade sideways; establishes tight $5.89 to $5.9 range

Polkadot trades at $5.89, after ending today at $5.89.

Polkadot is approaching key support, around 7 cents away from $5.83. 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 $7 and the lower is $5.61.

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

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. UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.

Having soared to a high of $18.23 approximately a year ago, Polkadot is now trading 67.68% lower. Polkadot has a market cap of 6.93 billion with an average daily volume of 190.86 million.