Polkadot cryptocurrency trades up $0.197, approximately 3.58% higher going into tomorrow

Polkadot goes up to $5.69 after dipping down to $5.44 earlier.

Polkadot broke through the $5.72 resistance, climbing 3 cents above it. Polkadot made an initial breakout above its 10 day Simple Moving Average at $5.73, a potential indicator of a newly emerging bullish phase. Polkadot's lower Bollinger Band® is at $5.07, indicating that the market is oversold and fertile for new buyers.

Examining the technical analysis landscape, Polkadot might continue its downtrend in the short term.

Polkadot shows positive signs, other assets are also on par: FTX Token gained 9.54% and is currently trading at $1.36. Ethereum is up 4.46%. Having closed the previous session at $20,600, Bitcoin is up 3.04% today to currently trade at around $21,235.

Over the past 11 months, Polkadot has retreated 80.03% from a noteworthy peak of $27.51. Polkadot is currently trading with a market cap of 6.63 billion with an average daily volume of 293.52 million.