Polkadot descends $0.108 following previous session close at $4.52

Polkadot slides down from $4.52 to $4.41 today, losing $0.108 (2.4%).

Despite being in the red so far in the current trading session, Polkadot peaked above its 10 day Simple Moving Average around $4.53 — typically an early indicator of a new bullish trend beginning to emerge. Polkadot's lower Bollinger Band® is at $4.1, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Despite this, Polkadot reversed direction at $4.44 support zone and climbed 3 cents above it.

Overall, looking at the technical analysis landscape, it seems Polkadot —which is currently on a downtrend— might reverse course and start pointing upward in the short term.

In the meantime, negative performances are also seen in other markets, Ripple closed at $0.478 (down 3.02%). EOS closed at $0.613 (down 2.55%).

Positive performances can be seen by looking at other markets as FTX Token leaps up 9.54% to trade around $1.36.

Polkadot has shed 26.3% over the past three months. Polkadot has a market cap of 5.28 billion with an average daily volume of 122.30 million.