- Polkadot price retests lower trendline support after the recent breakdown.
- Technical signal weak momentum near $4 resistance.
- Bulls must reclaim $6 to confirm the upside continuation pattern.
Polkadot price has seen a minor uptick in the past few hours, hovering just below the $5 mark. Over the past week, DOT has declined by 5%, aligning with the broader crypto market’s sideways movement. The recent dip followed a correction phase that pushed DOT below its ascending trendline. Currently, the asset is retesting that support level, which may act as resistance going forward.
The 24-hour trading volume for Polkadot stands at $131.56 million, reflecting a slight drop of 0.76%. Its market cap is now at $6.22 billion, up 0.89% in the same period. Meanwhile, the global crypto market cap has dropped by 0.59% to $2.94 trillion. Total market volume surged to $65.77 billion, marking a 36.77% increase. Bitcoin remains under the $95,000 level, while Ethereum continues to hold steady above $1,800, signaling a cautious sentiment across major digital assets.
Polkadot Price Eyes Bullish Rebound From Key Support Zone
A crypto expert uses weekly chart data to predict a potential upward trend for Polkadot (DOT). Multiple historical points show that DOT’s current position near the support region of its parallel channel makes this area a potent defensive zone.
Market activity combined with increased purchasing pressure during the time suggests investors have started accumulating near the support level. The expert analysis indicates that the present support area, combined with increasing volume activity, signals potential market inversion.
If the support area maintains its position, then upcoming price targets indicate future upward movement. The price targets ascending from $6.10 to $7.90, then to $8.54, afterward $11.73, and finally $14.42 have been identified. Official confirmation of bullish momentum will lead to setting $16.00 as the next price target.
Polkadot Price Stalls Below Key Resistance As Bulls Eye $10 Breakout
The Polkadot price was trading at $3.92 on May 5, reflecting little change after a quiet start to the month. This stagnant action comes despite a broad market showing mild bullish signals in early May. Polkadot continues to face strong resistance near $4.00, with buyers struggling to reclaim momentum after weeks of sideways movement.
The Relative Strength Index (RSI) has declined to 48 from a recent peak of 50. This places the indicator below the midpoint, suggesting that buying pressure is weakening. The Moving Average Convergence Divergence (MACD) also shows signs of hesitation. The MACD line is currently at 0.024, with the signal line slightly higher at 0.033. These figures reflect a flat trend, where neither buyers nor sellers dominate. The MACD histogram remains close to zero, further confirming the absence of a clear directional move.
Immediate support sits at $3.00, a level previously tested multiple times during downturns. A breakdown below this could trigger a deeper fall toward $2.00. Such a move would likely confirm bearish sentiment and increase sell-side pressure.
On the upside, buyers must reclaim the $6.00 resistance zone to establish a breakout structure. A clear move above $6.00 could push prices to $8.00 and $10.00. That rally would mark a 150% surge from current levels, but only if volume and momentum confirm the trend shift.
