Polkadot (DOT) Down 0.02% Sunday: What's Next?

Sunday, January 09, 2022 11:21 AM | InvestorsObserver Analysts

Polkadot (DOT) has been relatively less volatile compared to the crypto market. So far Sunday, the Distributed Software Platform has declined 1.67% to $24.38.

InvestorsObserver is giving Polkadot a 19 Volatility Rank. Find out what this means to you and get the rest of the rankings on Polkadot!

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Low Volatility

InvestorsObserver gives Polkadot a low volatility rank of 19, placing it in the bottom 19% of cryptos on the market.

The Volatility Gauge analyzes this makes its score defined by recent trends, rather than a bad day. DOT's low volatility reading is coupled with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.

Polkadot price is well positioned going forward. With support around $23.05 and resistance at $25.2. This positions Polkadot with room to run before facing selling pressures.

What is a Coin?

A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.