Mixed sentiment leads Polkadot cryptocurrency to trade sideways; establishes tight $5.97 to $6.03 range

A mostly flat day so far for Polkadot, ranging between $5.97 and $6.03; currently at $6.

Polkadot's upper Bollinger Band® is at $7 and the lower is $5.6. Polkadot is approaching key support, around 13 cents away from $5.85. 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 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 is up 9.54%. UNICORN Token USD slides down 2.98% to trade around $6.43. TRON moves 0.42% to trade around $0.066.

11 months ago Polkadot reached a significant high of $17 but has consequently lost 64.7% since then. Polkadot has a market cap of 7 billion with an average daily volume of 180 million.