Polkadot cryptocurrency trades up $0.081, approximately 1.54% higher going into tomorrow

Polkadot spiked to $6.05 before dropping back to its pre-spike levels and is now heading towards the close around $6.

Polkadot made an initial breakout above its 3 day Simple Moving Average at $6, a potential indicator of a newly emerging bullish phase. Polkadot's lower Bollinger Band® is at $5.74, indicating that the market is oversold and fertile for new buyers. On the other hand, note that Polkadot price action is currently oscillating around the $6.06 resistance level with prices moving above and below several times during the session.

Polkadot continues to move higher with technical analysis indicating the trend will continue in the short term.

Other markets are also showing gains as FTX Token gained 9.54% and is now trading at $1.36. TRON increases 1.38% to trade around $0.068.

At the same time, UNICORN Token USD is trading around $6.43 (down $0.197).

Having soared to a high of $27.51 approximately 10 months ago, Polkadot is now trading 78.48% lower. Polkadot has a market cap of 6.99 billion with an average daily volume of 327.68 million.