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April 30, 2023After dropping down to $5.97, Polkadot recovers some losses and is currently trading at $6.04.
Trend analysis indicates that Polkadot made an initial break below its 3 day Simple Moving Average at $5.95, a possible indication of a forthcoming negative trend. According to asset volatility analysis, Polkadot's upper Bollinger Band® is at $7 and the lower is $5.51. Analysis of Polkadot's recent price action suggests Polkadot is approaching key support, around 6 cents away from $5.97. 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.
All in all, the technical analysis suggests Polkadot has no clear-cut direction.
While Polkadot is pretty flat so far today, mixed performances are seen elsewhere as FTX Token gained 9.54% and is now trading at $1.36. Having closed the previous session at $11.71, Cosmos USD is up 1.57% today to currently trade at around $11.89. UNICORN Token USD is up 1.62%.
Having soared to a high of $16.31 approximately 11 months ago, Polkadot is now trading 62.97% lower. Polkadot has a market cap of 7.12 billion with an average daily volume of 191.23 million.
