Polkadot cryptocurrency trades up $0.11, approximately 2.49% higher this afternoon

Tentatively higher from an earlier low of $4.4, Polkadot is up to $4.52 today, adding $0.11, or 2.49%, to today's closing price of $4.41.

Polkadot made an initial breakout above its 5 day Simple Moving Average at $4.48, a potential indicator of a newly emerging bullish phase. Polkadot's lower Bollinger Band® is at $4.15, indicating that the market is oversold and fertile for new buyers. Polkadot broke through the $4.48 resistance, climbing 4 cents above it.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts Polkadot to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the Polkadot is expected to pick up significant bullish sentiment in the coming days.

Polkadot is now trading 33.42% below its 3-month high of $9.52. Polkadot is currently trading with a market cap of 5.41 billion with an average daily volume of 121.94 million.