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May 01, 2023
Polkadot drops from $5.88 to $5.81, losing $0.071 (1.21%) today.
Bollinger Bands® shows an indication of recovery: the lower band is at $5.43, a low enough level to, generally, suggest that Polkadot is trading below its fair value. Polkadot could begin to recover as it approaches significant support, now 1 cents away from $5.82. Dipping below could be an indication that further losses are ahead.
Technical analysis shows that Polkadot (currently on a downtrend) might reverse course and start going up in the short term.
In the meantime, negative performances are also seen in other markets, Bitcoin slips 2.27% to trade around $28,583.
Other assets are showing positive performances as FTX Token is up 9.54%. Having closed the previous session at $0.067, TRON is up 2.53% today to currently trade at around $0.069.
Approximately 11 months ago, Polkadot reached a significant high of $16.31 but has struggled to hold onto its gains and declined 63.91% since then. Polkadot is currently trading with a market cap of 6.85 billion with an average daily volume of 190.42 million.
