Polkadot cryptocurrency trades up $0.254, approximately 3.8% higher this afternoon

Polkadot spikes to $6.95 gaining $0.254.

Polkadot broke through the $6.8 resistance and climbed above it 15 cents; next resistance level is at $6.9. Polkadot made an initial breakout above its 5 day Simple Moving Average at $6.75, a potential indicator of a newly emerging bullish phase. Polkadot has crossed the upper Bollinger Band® at $6.94, a potential sign that further gains are to follow.

Overall, looking at the technical analysis landscape, it seems Polkadot might continue pointing upwards in the short term.

Other markets are also showing gains as FTX Token is up 9.54% to $1.36. Chainlink USD improves 6.6% to trade around $8.71. Bitcoin is up 3.27%.

Having set a significant high of $19.27 11 months ago, Polkadot is trading 65.25% lower. Polkadot has a market cap of 8.18 billion with an average daily volume of 181.15 million.