Polkadot cryptocurrency trades up $0.093, approximately 1.66% higher this afternoon

Small gain for Polkadot at $5.7 after ranging between $5.58 and $5.7 today.

Polkadot made an initial breakout above its 3 day Simple Moving Average at $5.66, a potential indicator of a newly emerging bullish phase. Polkadot's lower Bollinger Band® is at $5.28, indicating that the market is oversold and fertile for new buyers. On the other hand, note that Polkadot could be slowing down soon; it is getting close to the resistance line and is now at $5.84, only 14 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Polkadot continues to move higher with technical analysis indicating the trend will continue in the short term.

Polkadot shows positive signs, other assets are also on par: FTX Token is up 9.54%. EOS climbs 3.84% to trade around $1.16.

At the same time, Cosmos USD draws back 3.09% to trade around $10.64.

Having set a significant high of $27.51 11 months ago, Polkadot is trading 79.63% lower. Polkadot is currently trading with a market cap of 6.63 billion with an average daily volume of 306.96 million.