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May 24, 2023
Polkadot is sharply lower after losing $0.1, declining as low as $5.3.
Polkadot made an initial break below its 10 day Simple Moving Average at $5.34, a possible indication of a forthcoming negative trend. Polkadot's upper Bollinger Band® is at $5.58 which indicates a further downward move may follow. In contrast, Polkadot could begin to recover as it approaches significant support, now 1 cents away from $5.31. Dipping below could be an indication that further losses are ahead.
In the short term, Polkadot is expected to maintain its recent downtrend and continue spiralling lower.
In the meantime, negative performances are also seen in other markets, Litecoin is down to $86.53, losing $5.12, after closing at $91.65 in the preceding trading session. After ending today's session at $0.465, Ripple lost $0.011 and is trading around $0.454.
Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
Polkadot is now trading 23.74% below its 3-month high of $10.52. Polkadot has a market cap of 6.29 billion with an average daily volume of 110.93 million.
