Polkadot cryptocurrency trades up $0.106, approximately 1.81% higher going into tomorrow

Tentatively higher from an earlier low of $5.83, Polkadot is up to $5.96 today, adding $0.106, or 1.81%, to today's closing price of $5.85.

Polkadot made an initial breakout above its 200 day Simple Moving Average at $5.93, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $5.86 currently serving as resistance. If broken, the next Fib hurdle is expected to be $6. Polkadot's lower Bollinger Band® is at $5.73, indicating that the market is oversold and fertile for new buyers. Despite this, Polkadot could be slowing down soon as it approaches resistance at $6.05. Of course, crossing it might suggest further gains are ahead.

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 leaps up 9.54% to trade around $1.36. Ripple gained 4.38% and is now trading at $0.47. Binance Coin rises 2.81% to trade around $330.5.

Approximately 11 months ago, Polkadot reached a significant high of $18.73 but has struggled to hold onto its gains and declined 68.77% since then. Polkadot is currently trading with a market cap of 7 billion with an average daily volume of 185.12 million.