Polkadot cryptocurrency trades up $0.21, approximately 3.7% higher going into tomorrow

Polkadot trades at $5.88 after gaining $0.21 (3.7%).

As the trading day comes to an end, chart analysis indicates Polkadot broke through the $5.75 resistance and climbed 13 cents above it. Concerning technical analysis and more specifically, trend indicators, Polkadot made an initial breakout above its 10 day Simple Moving Average at $5.81, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $5.87 currently serving as resistance. If broken, the next Fib hurdle is expected to be $6.12. According to asset volatility analysis, Polkadot's upper Bollinger Band® is at $6.62, this is a slight indication of a slowdown.

All in all, the technical analysis suggests Polkadot has no clear-cut direction.

Polkadot shows positive signs, other assets are also on par: FTX Token added 9.54% to its value, now trading at $1.36. Ethereum is up 5.92%. Solana is up 5.3%.

Polkadot has shed $8.73 points and is languishing 60.64% lower over the past year, leaving its yearly highs around $14.37 in the rear-view mirror. Polkadot is currently trading with a market cap of 6.94 billion with an average daily volume of 177.58 million.