Polkadot (DOT) Rises 1.64%, Outperforms the Crypto Market Tuesday

Tuesday, April 05, 2022 09:09 AM | 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 increased 1.64% to $22.93.

InvestorsObserver is giving Polkadot a 26 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 26, placing it in the bottom 26% of cryptos on the market.

The Volatility Gauge follows this makes its score defined by recent trends, rather than a bad day. DOT's moderate volatility reading comes 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 trading near resistance. With support at $21.77 and resistance set at $23.28. This leaves Polkadot with potential selling pressures ahead as it may be getting over extended.

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.