Polkadot (DOT) Rises 4.14%, Outperforms the Crypto Market Friday

Friday, August 05, 2022 11:11 AM | InvestorsObserver Analysts

Polkadot (DOT) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Friday, the Distributed Software Platform has added 4.14% to $8.46.

InvestorsObserver is giving Polkadot a 31 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 31, placing it in the bottom 31% of cryptos on the market.

The Volatility Gauge takes into account which means that one day won't define its volatility rank - a trend will. 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 above resistance. With support set at $7.94 and resistance around $8.28. This positions Polkadot out of range and potentially in a volatile position if the rally burns out.

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.