Polkadot cryptocurrency trades up $0.114, approximately 1.92% higher going into tomorrow

Polkadot rallies $0.114 (1.92%) deep into the session, trading at $6.05.

Polkadot made an initial breakout above its 200 day Simple Moving Average at $6.05, a potential indicator of a newly emerging bullish phase. Despite this, Polkadot could be slowing down soon; it is getting close to the resistance line and is now at $6.29, only 24 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Overall, looking at the technical analysis landscape, it seems Polkadot might continue pointing upwards in the short term.

Polkadot shows positive signs, other assets are also on par: Bitcoin jumps 9.25% to trade around $24,230. Binance Coin gained 6.21% and is currently trading at $308.55. FTX Token soars 9.54% to trade around $1.36.

Having soared to a high of $27.51 approximately 11 months ago, Polkadot is now trading 78.42% lower. Polkadot is currently trading with a market cap of 7 billion with an average daily volume of 268.16 million.