Polkadot (DOT) Up 2.26% Friday: What's Next?

Friday, January 14, 2022 11:56 AM | InvestorsObserver Analysts

Polkadot (DOT) has been relatively less volatile compared to the crypto market. So far Friday, the Distributed Software Platform has added 2.26% to $27.25.

InvestorsObserver is giving Polkadot a 20 Volatility Rank. Find out what this means to you and get the rest of the rankings on Polkadot!

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Low Volatility

InvestorsObserver gives Polkadot a low volatility rank of 20, placing it in the bottom 20% 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 low volatility reading is coupled with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.

Polkadot price is trading near resistance. With support set at $25.79 and resistance near $27.55. 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.