Polkadot (DOT) is currently trading at around $4.00, reflecting a 1.46% increase in the last 24 hours. The critical support zone is between $3.60 and $3.80.
Market Situation and DOT Price
Polkadot's current price hovers near a crucial support area, historically serving as a foundation for price rebounds. Many traders are placing buy orders in this zone, potentially fueling a recovery.
Technical Indicators and Resistance
According to analyst CryptoPatel, the next major resistance for DOT is at $10.44. Successfully breaking this level could lead to a rally towards $40–$50 in an altcoin cycle. Failure might result in a drop to $2.50–$2.00, where stronger long-term demand could emerge.
Market Trend Analysis
DOT's RSI is currently at 40.17, indicating neutral momentum approaching oversold conditions. Additionally, the MACD line is below the signal line, signaling a bearish trend. The market shows lower volatility, but bearish pressure remains.
Polkadot's market is at a critical juncture, and the battle at the $3.60–$3.80 support level could determine its future direction. If bulls successfully defend it, a price recovery might follow.
