Polkadot cryptocurrency trades up $0.036, approximately 0.58% higher going into tomorrow

After dipping down to $6.13, Polkadot regains earlier losses and goes up to $6.25.

Polkadot price action is currently oscillating around the $6.25 resistance level with prices moving above and below several times during the session. Although up today, early price action saw Polkadot dropping below its 21 day Simple Moving Average at $6.19 — an early indicator that a new downward trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $6.52, thereby suggesting that Polkadot is becoming overvalued.

After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Polkadot is set for a reversal in the coming days.

Polkadot shows positive signs, other assets are also on par: FTX Token is up 9.54%. Bitcoin gained 3.21% and is now trading at $29,234. Litecoin added 2.46% to its value, now trading at $92.87.

Polkadot has fallen back around 67.77% from the significant high of $19.27 set 11 months ago. Polkadot has a market cap of 7.34 billion with an average daily volume of 164.67 million.