Polkadot set for weak finish today; down 1.02% to $5.36 with a hour before close

Late into the session, Polkadot loses $0.055 (1.02%), currently trading at $5.36.

Polkadot made an initial break below its 10 day Simple Moving Average at $5.35, a possible indication of a forthcoming negative trend. Polkadot's upper Bollinger Band® is at $5.9 which indicates a further downward move may follow. Despite this, Polkadot could begin to recover as it approaches significant support, now 6 cents away from $5.29. Dipping below could be an indication that further losses are ahead.

Looking forward, Polkadot is poised to extend its strong downtrend and continue declining.

In the meantime, negative performances are also seen in other markets, after ending today's session at $27,400, Bitcoin lost $518.02 and is trading around $26,882.

Other assets are showing positive performances as FTX Token is up 9.54%. Ripple is up 3.49%.

Polkadot has shed 25.88% over the past three months. Polkadot is currently trading with a market cap of 6.40 billion with an average daily volume of 121.83 million.