Polkadot (DOT) Rises 0.67%, Underperforms the Crypto Market Monday

Monday, April 10, 2023 11:31 AM | InvestorsObserver Analysts

Polkadot (DOT) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Monday, the Distributed Software Platform has gained 0.67% to $6.16.

InvestorsObserver is giving Polkadot a 28 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 28, placing it in the bottom 28% of cryptos on the market.

The Volatility Gauge analyzes meaning that one day won't make or break its rank. 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 favorably positioned going forward. With support at $6.07 and resistance near $6.21. 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.