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Polkadot (DOT) Falls 0.03%, Underperforms the Crypto Market Friday

Friday, May 20, 2022 04:19 PM | InvestorsObserver Analysts
Polkadot (DOT) Falls 0.03%, Underperforms the Crypto Market Friday

Polkadot (DOT) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Friday, the Distributed Software Platform has dropped 2.59% to $9.74.

volatility - 35
InvestorsObserver is giving Polkadot a 35 Volatility Rank. Find out what this means to you and get the rest of the rankings on Polkadot!

Moderately Volatile

InvestorsObserver gives Polkadot a moderate volatility rank of 35, placing it in the bottom 35% of cryptos on the market.

The Volatility Gauge analyzes which means that one day won't define its volatility rank - a trend will. DOT's moderate volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.

Polkadot price is in a good position going forward. With support at $9.07 and resistance near $10.12. 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.

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