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April 14, 2023
Polkadot got off to a strong start by gaining $0.159 (+2.39%), only to run out of steam later in the session around $6.84. Currently, Polkadot is trading around the $6.8 level.
Polkadot broke through the $6.67 resistance and climbed above it 13 cents; next resistance level is at $6.77. Investors are seeking long positions as Polkadot price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Having stamped out a session range of $6.64 to $6.84, Fibonacci-inclined Polkadot traders were highly concentrated around active Fibonacci resistance at $6.67. Polkadot has crossed the upper Bollinger Band® at $6.72, 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.
Polkadot shows positive signs, other assets are also on par: FTX Token jumps 9.54% to trade around $1.36. Ethereum increases 5% to trade around $2,113.49. Litecoin moves up 3.98% to trade around $98.
Polkadot has fallen back around 65.54% from the significant high of $19.27 set 11 months ago. Polkadot has a market cap of 8.00 billion with an average daily volume of 155.62 million.
