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May 23, 2023
Polkadot trades at $5.39 after gaining $0.077 (1.44%).
A study of Polkadot's chart reveals various key levels to watch: Polkadot broke through the $5.36 resistance, climbing 4 cents above it. Concerning technical analysis and more specifically, trend indicators, Polkadot made an initial breakout above its 21 day Simple Moving Average at $5.45, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $5.69, thereby suggesting that Polkadot is becoming overvalued.
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 gained 9.54% and is currently trading at $1.36. Bitcoin increases 1.71% to trade around $27,300.
At the same time, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.
Polkadot has shed 25% over the past three months. Polkadot is currently trading with a market cap of 6.40 billion with an average daily volume of 107.75 million.
