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May 10, 2023
Polkadot posts light gains on a low-volatility day, ranging between $5.33 – $5.36 and is now at $5.36.
Polkadot made an initial breakout above its 3 day Simple Moving Average at $5.33, a potential indicator of a newly emerging bullish phase. Polkadot's lower Bollinger Band® is at $5.27, indicating that the market is oversold and fertile for new buyers. In contrast, after reaching the known resistance zone beginning at $5.38, Polkadot price action retreated approximately 2 cents.
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 is up 9.54%. Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47.
Meanwhile, Bitcoin Cash is down to $119.64, losing $2.34, after closing at $121.98 in the preceding trading session.
Over the past 11 months, Polkadot has retreated 54.83% from a noteworthy peak of $11.8. Polkadot is currently trading with a market cap of 6.33 billion with an average daily volume of 144.51 million.
