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June 29, 2023
Polkadot trades at $4.93 after gaining $0.05 (1.02%).
With regards to technical trend indicators, chart analysis show that Polkadot made an initial breakout above its 10 day Simple Moving Average at $4.94, a potential indicator of a newly emerging bullish phase. Polkadot is currently trading around the $4.94 Fibonacci resistance level. According to asset volatility analysis, Polkadot's upper Bollinger Band® is at $5.25, this is a slight indication of a slowdown. Analysis of Polkadot's recent price action suggests Polkadot could be slowing down soon as it approaches resistance at $5.05. Of course, crossing it might suggest further gains are ahead.
With market volatility ebbing, the current technical outlook indicates Polkadot will remain range-bound for the immediate future.
Polkadot shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $0.074, TRON is up 1.09% today to currently trade at around $0.075. Bitcoin Cash is up 1.51% to $228.64.
10 months ago Polkadot reached a significant high of $9.52 but has consequently lost 48.73% since then. Polkadot is currently trading with a market cap of 5.92 billion with an average daily volume of 134 million.
