Polkadot cryptocurrency trades up $0.025, approximately 0.47% higher this afternoon

Polkadot posts light gains on a low-volatility day, ranging between $5.32 – $5.39 and is now at $5.38.

Technical analysis of Polkadot's past price action reveals multiple support and resistance levels: Polkadot is 14 cents away from testing key resistance at $5.38. Peaking above this level could inspire market bulls and open the path to further gains. Concerning technical analysis and more specifically, trend indicators, despite posting gains so far today, Polkadot slid below its 5 day Simple Moving Average at $5.35 in earlier trade — an early indicator that a negative trend could be emerging. According to asset volatility analysis, Polkadot's lower Bollinger Band® is at $5.13, indicating that the market is oversold and fertile for new buyers.

Overall, the technical outlook suggests Polkadot is likely to remain muted for the immediate future, with no clear-cut direction.

Polkadot shows positive signs, other assets are also on par: FTX Token is up 9.54% to $1.36.

At the same time, after ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43. After ending today's session at $0.371, Cardano lost $0.006 and is trading around $0.365.

Polkadot has fallen back around 54.64% over the past 11 months, from a notable high of $11.8. Polkadot has a market cap of 6.36 billion with an average daily volume of 137.26 million.