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March 10, 2023
After dipping down to $5.18, Polkadot regains earlier losses and goes up to $5.43.
Polkadot made an initial breakout above its 3 day Simple Moving Average at $5.45, a potential indicator of a newly emerging bullish phase. Polkadot's lower Bollinger Band® is at $5.07, indicating that the market is oversold and fertile for new buyers. In contrast, Polkadot could be slowing down soon; it is getting close to the resistance line and is now at $5.7, only 27 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.
Other markets are also showing gains as FTX Token soars 9.54% to trade around $1.36.
Meanwhile, after ending today's session at $76.78, Litecoin lost $6.51 and is trading around $70.27. TRON draws back 3.34% to trade around $0.057.
Having set a significant high of $27.51 11 months ago, Polkadot is trading 80.45% lower. Polkadot is currently trading with a market cap of 6.32 billion with an average daily volume of 314.96 million.
