Polkadot (DOT) Falls 0.04%, Underperforms the Crypto Market Tuesday

Tuesday, July 05, 2022 01:24 PM | InvestorsObserver Analysts

Polkadot (DOT) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Tuesday, the Distributed Software Platform has fallen 4.26% to $6.73.

InvestorsObserver is giving Polkadot a 39 Volatility Rank. Find out what this means to you and get the rest of the rankings on Polkadot!

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Moderately Volatile

InvestorsObserver gives Polkadot a moderate volatility rank of 39, placing it in the bottom 39% of cryptos on the market.

The Volatility Gauge follows this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. DOT's moderate volatility reading is paired 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 favorable position going forward. With support around $6.36 and resistance at $6.87. 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.